MSCI China All Shares Health Care 10/40 Index

Transcript

1 MSCI CHINA ALL SHARES HEALTH CARE 10/40 (USD INDEX ) A‐ B‐ H‐ shares, The MSCI China All Shares Health Care 10/40 Index captures large and mid-cap representation across China shares, Red‐ P‐ shares, chips and foreign listings (e.g. ADRs). The index aims to reflect the opportunity set of China share classes listed in chips, Hong Kong, Shanghai, Shenzhen and outside of China. It is based on the concept of the integrated MSCI China equity universe with China A- shares included. All securities in the index are classified in the Health Care sector according to the Global Industry Classification Standard (GICS®). The 10/40 concentration constraints apply investment limits where the weight of each group entity in the index is capped at 10% and the cumulative weight of all group entities with a weight in excess of 5% does not exceed 40% of the Index by weight. CUMULATIVE INDEX PERFORMANCE - NET RETURNS (USD ) (NOV 2012 – MAR 2019 ) (%) ANNUAL PERFORMANCE MSCI China All MSCI China Year Shares Health 300 All Shares MSCI China All Shares Health Care 10-40 Care 10-40 MSCI China All Shares -28.06 2018 -23.27 33.89 41.18 2017 2016 -7.87 -10.61 -3.05 2015 19.94 200 196.31 2014 5.06 23.29 1.11 32.46 2013 160.91 100 50 Nov 12 Sep 18 Mar 19 Jun 14 Dec 13 Jan 15 Jul 15 Jan 16 Aug 16 Feb 17 Aug 17 Mar 18 Jun 13 (%) ( MAR 29, 2019 ) INDEX PERFORMANCE — FUNDAMENTALS ( MAR 29, 2019 ) NET RETURNS ANNUALIZED P/E Fwd P/BV P/E (%) Div Yld Since 3 Yr YTD 1 Yr 10 Yr 3 Mo 1 Mo 5 Yr Nov 30, 2012 MSCI China All Shares Health 11.25 6.76 28.24 -16.71 28.24 na 8.60 8.11 1.16 26.34 3.49 20.69 Care 10-40 7.81 9.54 10.50 22.29 3.55 -6.82 22.29 na 2.04 14.07 11.85 1.82 MSCI China All Shares ( MAR 29, 2019 ) INDEX RISK AND RETURN CHARACTERISTICS 2 2 , 3 ANNUALIZED STD DEV (%) MAXIMUM DRAWDOWN SHARPE RATIO Turnover Since (%) 10 Yr 3 Yr 5 Yr Period YYYY-MM-DD 3 Yr 5 Yr 10 Yr 1 Nov 30, 2012 (%) MSCI China All Shares Health 0.42 21.59 25.22 na 0.41 15.68 na 0.54 46.45 2018-05-28—2019-01-03 Care 10-40 2015-05-26—2016-02-12 44.92 8.05 16.36 22.15 na 0.61 0.48 na 0.43 MSCI China All Shares 1 2 3 net returns Based on monthly Based on ICE LIBOR 1M data Last 12 months The MSCI China All Shares Health Care 10/40 Index was launched on Oct 25, 2017. Data prior to the launch date is back-tested data (i.e. calculations of how the index might have performed over that time period had the index existed). There are frequently material differences between back-tested performance and actual results. Past performance -- whether actual or back-tested -- is no indication or guarantee of future performance. MSCI CHINA ALL SHARES HEALTH CARE 10/40 INDEX

2 MAR 29, 2019 TOP INDEX CHARACTERISTICS 10 CONSTITUENTS Float Adj Mkt Cap MSCI China All Shares Health Care 10-40 Index ( USD Billions) Wt. (%) Number of 59 JIANGSU HENGRUI MED A 9.57 11.46 Constituents 7.36 CSPC PHARMACEUTICAL GRP 8.81 Mkt Cap ( Millions) USD 5.36 SINO BIOPHARMACEUTICAL 6.42 Index 119,798.49 SINOPHARM GROUP CO H 4.20 5.03 Largest 11,458.75 4.03 4.83 WUXI BIOLOGICS 615.59 Smallest 3.42 ALIBABA HEALTH INFO TECH 4.10 2,030.48 Average YUNNAN BAIYAO GROUP CO A 4.03 3.36 Median 1,402.87 2.62 3.13 ZHANGZHOU PIENTZEHUANG A SHANGHAI FOSUN PHARMA A 2.71 2.26 MEINIAN ONEHEALTH A 2.62 2.19 44.36 53.14 Total COUNTRY OF LISTING SUB-INDUSTRY WEIGHTS 12.22% 40.47% 6.02% 5.49% 3.42% 2.19% 1.38% 1.64% 0.95% 58.16% 68.06% United States 1.38% China 58.16% Hong Kong 40.47% Pharmaceuticals 68.06% Biotechnology 6.02% Health Care Distributors 12.22% Life Sciences Tools & Services 5.49% Health Care Technology 3.42% Health Care Services 2.19% Health Care Supplies 1.64% Health Care Equipment 0.95% INDEX METHODOLOGY The MSCI China All Shares Health Care 10/40 Index is constructed by applying the MSCI Global Investable Market Indexes (GIMI) Methodology Red‐ A‐ P‐ B‐ H‐ chips. The Emerging Markets shares, shares, chips, and shares, on the integrated MSCI China equity universe comprising investability requirements and Global Minimum Size Reference for the Standard size-segments are applied. All securities in the index are classified in the Health Care sector according to the Global Industry Classification Standard (GICS®). The index constituents are initially weighted by the security free-float adjusted market capitalization calculated based on the Foreign Inclusion Factor (FIF) and subject to Foreign Ownership Limits (FOLs). For the China A-share constituents, an Inclusion Factor (IF) of 100% is applied to their security free-float adjusted market capitalization in deriving their final weight in the index. The Index applies the 10/40 weighting constraints to limit concentration. Whenever a weighting constraint is breached, the Index rebalances to maintain compliance. The Index is rebalanced quarterly and whenever a weighting constraint is breached. ABOUT MSCI For more than 40 years, MSCI' research-based indexes and analytics have helped the world' leading investors build and manage better portfolios. Clients rely on our offerings for deeper insights into the drivers of performance and risk in their portfolios, broad asset class coverage and innovative research. Our line of products and services includes indexes, analytical models, data, real estate benchmarks and ESG research. MSCI serves 99 of the top 100 largest money managers, according to the most recent P&I ranking. For more information, visit us at www.msci.com . The information contained herein (the "Information") may not be reproduced or redisseminated in whole or in part without prior written permission from MSCI. The Information may not be used to verify or correct other data, to create indexes, risk models, or analytics, or in connection with issuing, offering, sponsoring, managing or marketing any securities, portfolios, financial products or other investment vehicles. Historical data and analysis should not be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information or MSCI index or other product or service constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy. Further, none of the Information or any MSCI index is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. The Information is provided "as is" and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. NONE OF MSCI INC. OR ANY OF ITS SUBSIDIARIES OR ITS OR THEIR DIRECT OR INDIRECT SUPPLIERS OR ANY THIRD PARTY INVOLVED IN THE MAKING OR COMPILING OF THE INFORMATION (EACH, AN "MSCI PARTY") MAKES ANY WARRANTIES OR REPRESENTATIONS AND, TO THE MAXIMUM EXTENT PERMITTED BY LAW, EACH MSCI PARTY HEREBY EXPRESSLY DISCLAIMS ALL IMPLIED WARRANTIES, INCLUDING WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. WITHOUT LIMITING ANY OF THE FOREGOING AND TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT SHALL ANY OF THE MSCI PARTIES HAVE ANY LIABILITY REGARDING ANY OF THE INFORMATION FOR ANY DIRECT, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL (INCLUDING LOST PROFITS) OR ANY OTHER DAMAGES EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. The foregoing shall not exclude or limit any liability that may not by applicable law be excluded or limited. © MSCI Inc. All rights reserved. 2019 MSCI CHINA ALL SHARES HEALTH CARE 10/40 INDEX

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