EFTA00617310Set 9
69p31,792w
results of the first part of the research indicate that IEFs on average have underperformed
their Islamic and conventional benchmarks, although this is mainly caused by the
underperformance of Malaysian ... funds. The results of the second part indicate that adjusting
for risk, IEFs slightly underperforms their Islamic and conventional benchmarks, but that this
underperformance is insignificant and robust against alternative ... there was no significant difference between active and passive funds and that
they both underperformed the Kuala Lumpur Composite Index benchmark.
Ahmad (2001) provided a very rough guide
https://www.justice.gov/epstein/files/DataSet%209/EFTA00617310.pdf
EFTA00200811Set 9
82p15,735w
stock rating values is as follows: 0 = Outperform; P = Peer Perform; U = Underperform, The second rating
represents the rating of the coverage universe relative to the regional broader market index ... stock rating values is as follows: 0 = Outperform; P = Peer Perform; U = Underperform, The second rating
represents the rating of the coverage universe relative to the regional broader market index ... stock rating values is as follows: 0 = Outperform; P = Peer Perform; U = Underperform, The second rating
represents the rating of the coverage universe relative to the regional broader market index
https://www.justice.gov/epstein/files/DataSet%209/EFTA00200811.pdf
EFTA01103701Set 9
2014-11-0389p57,380w
universe.) Underweight (Over the next six to twelve months, we expect this stock will underperform the average total return of
the stocks in the analyst's (or the analyst ... Underweight (over the next three months,
the recommended risk position is expected to underperform the relevant index, sector, or benchmark). J.P. Morgan Emerging Markets
Sovereign Research uses Marketweight, which ... next three months, the credit return on the
recommended position is expected to underperform the relevant index, sector or benchmark).
Valuation & Methodology: In J.P. Morgan's credit research, we assign
https://www.justice.gov/epstein/files/DataSet%209/EFTA01103701.pdf
EFTA00605996Set 9
2015-11-0412p3,993w
analysts (or the analysts team) coverage
universe over the next 6-12 months.
Underperform: Expect the total retum of the stock to underperform relative to the median total retum ... September 30. 2015)
Outperform: 55% Outperform:24%
Neutral: 43% Neutral: 3%
Underperform: 2% Underperform: 0%
The Distribution of Ratings is required by FINRA rules: however WS' stock ratings of Outperform ... Neutral, and Underperform most closely
conform to Buy, Hold, and Sell, respectively. Please note, however, the definitions are not the same as WS' stock ratings are on a relative
basis
https://www.justice.gov/epstein/files/DataSet%209/EFTA00605996.pdf