EFTA01088033Set 9
2016-04-1921p9,988w
dominated by passive flows, and stocks have become increasingly correlated
within the industry.
BofA Merrill Lyndt does and seeks to do business with issuers covered in its research reports ... Seats Biotech Rd. Wg1. In Fund Holdings —Avg. overweight since '08
Scurce FxtSevLionsrxet BofA Merril Lynch US EquIty & US Quant Strategy Source. FactSeubonshares.BolA inernll LynchUS Equiry& US Quant Strategy
Table ... BiotechlHealth Care AUM Overall US Equity AUM
Active, 33%
Passive, 67%
Source EPFRGlobvt BofA Merril Lynch Global Research Sotoce. Sofurcl.BoM memli Lynch US Equity & USPliant Strategy
Chart 4: Cumulative flows
https://www.justice.gov/epstein/files/DataSet%209/EFTA01088033.pdf
EFTA00665021Set 9
2017-09-1911p2,641w
exposure in 2017
EFTA00665023
[cid:image002.png®01D330BF.B0109580]
[cid:image005.png®01D330BF.B0109580]
[cid:image007.png®01D330BF.B0109580]
Source: BofA Merrill Lynch Global Research. Daily data from 7-Nov-16 through 18-Sep-17.
Source ... BofA Merrill Lynch US Equity & Quant Strategy, Russell Investment Group, I/B/E/S, Compustat.
Monthly data shown from Aug-03 through Aug-17.
Source: BofA Merrill Lynch Global Research. Weekly data from ... their correlation has since rebounded
sharply
[cid:image008.png®01D330BF.B0109580]
[cid:image009.png®01D330BF.B0109580]
Source: BofA Merrill Lynch Global Research. Daily data from 2-Jan-08 through 15-Sep-17.
Source: BofA
https://www.justice.gov/epstein/files/DataSet%209/EFTA00665021.pdf
EFTA02350300Set 11
2017-02-027p1,526w
Merrill Lynch, Pierce, Fenner & Smith, Incorporated
("ML"). The material is not a publication of BofA Merrill Lynch Global Research, and it has not been reviewed or
approved by BofA Merrill ... summary of ML Research notes and reports, and/or any reference
or link to BofA Merrill Lynch Global Research notes and reports, are qualified in their entirety by the views ... BofA
Merrill Lynch Global Research. Any reference to or summary of ML Research in this material is qualified in its entirety by
the views of BofA Merrill Lynch Global Research
https://www.justice.gov/epstein/files/DataSet%2011/EFTA02350300.pdf
EFTA02513876Set 11
2018-03-085p1,866w
Merrill Lynch, Pierce, Fenner & Smith, Incorporated ("ML"). The
material is not a publication of BofA Merrill Lynch Global Research, and it has not been reviewed or approved by BofA
Merrill ... summary of ML Research notes and reports, and/or any reference or link to BofA
Merrill Lynch Global Research notes and reports, are qualified in their entirety by the views ... BofA Merrill Lynch Global
Research. Any reference to or summary of ML Research in this material is qualified in its entirety by the views of BofA
Merrill Lynch Global Research
https://www.justice.gov/epstein/files/DataSet%2011/EFTA02513876.pdf
EFTA00636006Set 9
2017-02-074p1,724w
Merrill Lynch, Pierce, Fenner & Smith, Incorporated
("ML"). The material is not a publication of BofA Merrill Lynch Global Research, and it has not been reviewed or approved by
BofA Merrill ... summary of ML Research notes and reports, and/or any reference or link to BofA
Merrill Lynch Global Research notes and reports, are qualified in their entirety by the views ... BofA Merrill Lynch Global
Research. Any reference to or summary of ML Research in this material is qualified in its entirety by the views of BofA
Merrill Lynch Global Research
https://www.justice.gov/epstein/files/DataSet%209/EFTA00636006.pdf
EFTA01055163Set 9
2017-02-024p1,226w
Merrill Lynch, Pierce, Fenner & Smith,
Incorporated ("ML"). The material is not a publication of BofA Merrill Lynch Global Research, and it has not
been reviewed or approved by BofA Merrill ... summary of ML Research notes
and reports, and/or any reference or link to BofA Merrill Lynch Global Research notes and reports, are
qualified in their entirety by the views ... BofA Merrill Lynch Global Research. Any reference to or summary
of ML Research in this material is qualified in its entirety by the views of BofA Merrill Lynch Global
Research
https://www.justice.gov/epstein/files/DataSet%209/EFTA01055163.pdf
EFTA01055161Set 9
2017-02-022p1,089w
Merrill Lynch, Pierce, Fenner & Smith,
Incorporated ("ML"). The material is not a publication of BofA Merrill Lynch Global Research, and it has not
been reviewed or approved by BofA Merrill ... summary of ML Research notes and
EFTA01055161
reports, and/or any reference or link to BofA Merrill Lynch Global Research notes and reports, are qualified in
their entirety by the views ... BofA Merrill Lynch Global Research. Any reference to or summary of
ML Research in this material is qualified in its entirety by the views of BofA Merrill Lynch Global Research
https://www.justice.gov/epstein/files/DataSet%209/EFTA01055161.pdf
EFTA02512785Set 11
2018-03-075p1,695w
Merrill Lynch Global Research, and it has not been reviewed or approve= by BofA
Merrill Lynch Global Research. Any summary of ML Research notes a=d reports, and/or any reference ... link to BofA
Merrill Lynch Global Resea=ch notes and reports, are qualified in their entirety by the views of BofA=Merrill Lynch Global
Research. Any reference to or summary ... Research =n this material is qualified in its entirety by the views of BofA
Merrill =ynch Global Research. Please refer to BofA Merrill Lynch Global Research f=r more details
https://www.justice.gov/epstein/files/DataSet%2011/EFTA02512785.pdf
EFTA02512458Set 11
2018-03-074p1,551w
Merrill Lynch, Pierce, Fenner & Smith, =ncorporated ("ML"). The
material is not a publication of BofA Merrill =ynch Global Research, and it has not been reviewed or approved by BofA
=errill ... summary of ML Research notes and =eports, and/or any reference or link to BofA
Merrill Lynch Global =esearch notes and reports, are qualified in their entirety by the views ... BofA Merrill Lynch Global
Research. Any reference to or summary of ML =esearch in this material is qualified in its entirety by the views of =ofA
Merrill Lynch Global Research
https://www.justice.gov/epstein/files/DataSet%2011/EFTA02512458.pdf
EFTA02511651Set 11
2018-03-054p1,266w
BofA =errill Lynch Global Research, and it has not been reviewed or approved =y BofA
Merrill Lynch Global Research. Any summary of ML Research notes =nd reports, and/or any reference ... link to BofA
Merrill Lynch Global =esearch notes and reports, are qualified in their entirety by the views =f BofA Merrill Lynch Global
Research. Any reference to or summary ... entirety by the views of =ofA
Merrill Lynch Global Research. Please refer to BofA Merrill Lynch =lobal Research for more details (baml.com/markets
<http://www.baml.com/markets> ).
The estimated values provided
https://www.justice.gov/epstein/files/DataSet%2011/EFTA02511651.pdf
EFTA01737917Set 10
2016-08-098p1,752w
structure is, in our estimate. approx. 1.4%... realized move post-elections since 1928
Source BofA Merrill Lynch Global Researdi Daly data from 2-Jun-09 to S. Source Da Merril ... EFTA_R1_00024954
EFTA01737923
US E uity [kris:ithe. Research I BofA Merrill L ch I Merrill Lynch, Pierce, Fenner & Smith Incorporated I +I 646455-
5480 dn.rsch am m-leas
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01737917.pdf