nd when Republicans took it in 1994, Hillary Care stopped. Today, Republicans control Congress. We expect 6%+ sales growth and —7% EPS growth from S&P Healthcare next year, and it has best sales and EPS estimates revision trends of any major sector. We also like its low cyclicality and strong balance sheet

ment Performance” and Section XIII: “Appendices” including endnote C in Appendix 4 regarding information provided by Cambridge Associates. 3 S&P500, S&P Healthcare, NASDAQ Composite, and Russell 3000. See endnote F in Appendix 4. * Please refer to Section III: “Summary of Historical Investment Performance” and