Epstein Secrets

TOP OPPORTUNISTIC INVESTMENT THEMES FOR 1Q 2012 Global Investment Opportunities Group J.P. Morgan Private Bank w O LLz O a cr, This presentation is intended for your personal use only and should not be circulated to any other person without our permissi

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nds US Bonds Global Gov Bonds" JPM Global HY EM Local Bonds" Brent EM $ Corp iBoxx Euro Corps S&P500 US Cash FTSE 100 -4% • EM FX -4% • MSCI Europe -11% Hang Seng -15% Topix -15% rrrrr - MSCI EM $ -16% rrrrr - Brazil Bovespa -17% Corn -20% -40% -20% 0% 20% 40% Source: J.P. Morgan,

or analyst certification and important disclosures. Global Asset Allocation 04 January 2013 Global Asset Allocation Jan Loeys AC (1-212)834-5874 JPMorgan Chase Bank NA John Normand (44-20) 7134-1816 M. Morgan Securities plc Nikolaos Panigirtzoglou (44-20) 7134-7815 Morgan Secunties plc Seamus Mac Gorain (44-

vans (44-20) 7742-2537 M. Morgan Securities plc 2012 returns %, equities are in tighter color. Toplx EMBIG MSCI EM* EM S Corp. MSCI AC Work! MSCI Europe US Hip Yield SIP500 Europe Faced Inc US Hip Grade EM Local Bonds EM FX Gold Global Gov Bonds— U S Fixed Income US cash GSCI TR ■ .6 0 5 1

A% Industrials 12.6% 15.7% 1.2% 10.5% FTSE 100 5770 8.6% Discretionary 21.0% 23.9% 45% 10.8% MSCI Eurozone* 143 15.8% Staples 11.4% 13.1% 13.8% 19.5% MSCI Europe* 1104 13.2% Healthcare 18.4% 15.5% 15.0% 30.9% MSCI EM $* oo5 12.2% Financials 25.6% 24.2% 23.0% 16.8% Brazil Bovespa 58383 2.6% Information Tech. 15

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