lected investment ideas to complement wealth-management clients' portfolios Global financials Idea initiated July 1, 2015 Reference measure MSC! AC World Financials Index vs. MSCI AC World I ride,' • investment horizon 3 12 months Performance canoe O Financials have tmderperformed the overall equity mark

lected investment ideas to complement wealth-management clients' portfolios Global financials Idea initiated July 1, 2015 Reference measure MSC! AC World Financials Index vs. MSCI AC World Iride's • inw?stment horizon 3 12 months Performance vince O Financials have tmderperformed the overall equity marke

g growth, etc. (depending on the central bank's mandate). MSC I is a company providing indices and other analytical tools for investors. The MSC! AC World Financials Index includes large and mid- cap firms In the financial sector (principally banks) across 46 developed- and emerging-market countries. The MSC( AC