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ast year, we highlighted increased allocations to North America, based on perceptions of the US as a ‘saf
Street, St Helier, Jersey, JE2 4WD. Regulated by the Jersey Financial Services Commission. The Netherlands by Invesco Asset Management S.A
ain impact. North Korean Belligerence Continues: North Korea’s unpredictable and belligerent military ac
d a Cross-Border Investment Advisory Company with the Korean Financial Supervisory Commission, and as a licensed corporation for, amongst othe
ropean banks. We prefer small-/mid-cap buyouts in North America given the better economic outlook vs. Eur
publication and of the research on investments and financial analysis herein contained. Jersey: UBS AG, Jersey Branch, is regulated and authorized by the Jersey Financial Services Commission for the conduct of banking, funds and investment business. Luxembourg: This publication is not intended to constitute a public offer under Luxembourg
Page: HOUSE_OVERSIGHT_025290 →Entities connected to both Norther and the Jersey Financial Services Commission

North
LOCATION
Marc Rich
PERSON
United States
LOCATION
Donald Trump
PERSON
Barack Obama
PERSON
Atlanta
LOCATION
North America
LOCATION
Bahrain
LOCATIONthe Dubai Financial Services Authority
ORGANIZATION
Eric Holder
PERSON
Netherlands
LOCATION
United Arab Emirates
LOCATION
Michael Bloomberg
PERSON
Eurozone
ORGANIZATION
Federal Reserve
ORGANIZATION
Western Europe
LOCATION
Frankfurt
LOCATION
Chile
LOCATION
Panama
LOCATION
Belgium
LOCATION