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has the meaning given in section 7616 of the Corporations Act 2001. Germany: This material is distributed in Germany by 1.P. Morgan Securities plc, Frankfurt Branch and J.P.Morgan Chase Bank, N.A., Frankfurt Branch which are regulated by the Bundesan.stalt far Finanzdienstleistungsaufsicht. Hong Kong: The
many by 1.P. Morgan Securities plc, Frankfurt Branch and J.P.Morgan Chase Bank, N.A., Frankfurt Branch which are regulated by the Bundesan.stalt far Finanzdienstleistungsaufsicht. Hong Kong: The I% ownership disclosure as of the previous month end satisfies the requirements under Paragraph 16.5(a) of the Hong Kong Code of Con
dnesday, February 11, 2015 01:28 PM Subject: Some thoughts from my trip to Germany y'day and a trade idea I saw the biggest multi-asset managers in Frankfurt yday with Ozan my co-head of MAC who incidentally is seeing more clients in Munich today. On the plane home I jotted down some feedback as there see
receive for transactions in related securities. Deutsche Bank AG is authorised as a Credit Institution under German Law by the Bundesanstalt fiir Finanzdienstleistungsaufsicht and regulated for the conduct of its UK investment business by the Financial Services Authority. This e-mail may contain confidential and/or privil
has the meaning given in section 76ICi of the Corporations Act 2001. Germany: This material is distributed in Germany by J.P. Morgan Securities pk, Frankfurt Branch and J.P.Morgan Chase Bank, N.A., Frankfurt Branch which arc regulated by the Bundesanstalt fiir Finanzdienstleistungsaufsicht. Hong Kong: The
rmany by J.P. Morgan Securities pk, Frankfurt Branch and J.P.Morgan Chase Bank, N.A., Frankfurt Branch which arc regulated by the Bundesanstalt fiir Finanzdienstleistungsaufsicht. Hong Kong: The 1% ownership disclosure as of the previous month end satisfies the requirements under Paragraph 16.5(a) of the Hong Kong Code of Con
Entities connected to both Frankfurt and Finanzdienstleistungsaufsicht

Bloomberg L.P.
ORGANIZATIONthe Prudential Regulation Authority
ORGANIZATION
New Zealand
LOCATION
Malaysia
LOCATIONThe Financial Futures Association of Japan
ORGANIZATIONthe Securities and Exchange Commission
ORGANIZATION
Philippines
LOCATION
Moody's
ORGANIZATION
JPMorgan Chase
ORGANIZATION
the Financial Services Agency
ORGANIZATIONthe Capital Market Authority
ORGANIZATIONthe Dubai Financial Services Authority
ORGANIZATION
Mumbai
LOCATIONJapan Investment Advisers Association
ORGANIZATIONthe Securities and Futures Commission
ORGANIZATIONthe Central Bank of Brazil
ORGANIZATIONJ.P. Morgan Securities LLC
ORGANIZATION
the Ministry of Finance
ORGANIZATIONthe Stock Exchange of Thailand
ORGANIZATIONthe Philippine Stock Exchange
ORGANIZATION