MSCI World Enhanced Value Index

MSCI WORLD ENHANCED VALUE INDEX (USD)
The MSCI World Enhanced Value Index captures large and mid-cap representation across 23 Developed Markets (DM) countries*
exhibiting overall value style characteristics. The index is designed to represent the performance of securities that exhibit higher
value characteristics relative to their peers within the corresponding GICS® sector. The value investment style characteristics for index
construction are deﬁned using three variables: Price-to-Book Value, Price-to-Forward Earnings and Enterprise Value-to-Cash ﬂow from
Operations.
CUMULATIVE INDEX PERFORMANCE - NET RETURNS
400
ANNUAL PERFORMANCE (%)
(USD) (MAR 2001 – MAR 2016)
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
309.08
300
207.07
200
100
50
Mar 01
Jun 02
Sep 03
Dec 04
MSCI World
Enhanced Value
Year
MSCI World Enhanced Value
MSCI World
Mar 06
Jun 07
Sep 08
INDEX PERFORMANCE — NET RETURNS
Dec 09
Mar 11
Jun 12
Sep 13
Dec 14
Mar 16
MSCI World
-3.28
3.98
31.92
14.28
-11.57
8.59
41.09
-43.04
9.76
30.39
16.76
28.07
56.06
-15.58
-0.87
4.94
26.68
15.83
-5.54
11.76
29.99
-40.71
9.04
20.07
9.49
14.72
33.11
-19.89
FUNDAMENTALS ( MAR 31, 2016 )
(%) ( MAR 31, 2016 )
ANNUALIZED
MSCI World Enhanced Value
MSCI World
1 Mo
3 Mo
1 Yr
YTD
3 Yr
5 Yr
10 Yr
Since
Nov 28, 1997
Div Yld (%)
P/E
P/E Fwd
P/BV
6.23
6.79
-3.92
-0.35
-9.81
-3.45
-3.92
-0.35
6.27
6.82
3.85
6.51
3.93
4.27
8.64
5.04
3.29
2.66
13.30
19.29
10.95
15.82
1.05
2.09
INDEX RISK AND RETURN CHARACTERISTICS ( MAR 31, 2016 )
ANNUALIZED STD DEV (%) 2
MSCI World Enhanced Value
MSCI World
SHARPE RATIO 2 , 3
MAXIMUM DRAWDOWN
Turnover
(%) 1
3 Yr
5 Yr
10 Yr
3 Yr
5 Yr
10 Yr
Since
Nov 28, 1997
(%)
Period YYYY-MM-DD
21.79
2.66
13.32
11.88
15.79
13.33
19.78
16.56
0.51
0.60
0.30
0.52
0.23
0.25
0.41
0.24
62.01
57.82
2007-10-31—2009-03-09
2007-10-31—2009-03-09
1
Last 12 months
2
Based on monthly net returns data
3
Based on BBA LIBOR 1M
* DM countries include: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden,
Switzerland, the UK and the US.
The MSCI World Enhanced Value Index was launched on Aug 11, 2014. 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 WORLD ENHANCED VALUE INDEX
MAR 31, 2016
INDEX CHARACTERISTICS
TOP 10 CONSTITUENTS
MSCI World Enhanced Value
Number of
Constituents
Country
397
CISCO SYSTEMS
INTEL CORP
PFIZER
TOYOTA MOTOR CORP
ARCHER-DANIELS-MIDLAND
GILEAD SCIENCES
JPMORGAN CHASE & CO
AT&T
WAL-MART STORES
UNITEDHEALTH GROUP
Total
Mkt Cap ( USD Millions)
Index
Largest
Smallest
Average
Median
7,136,707.20
195,860.48
544.58
17,976.59
7,895.27
SECTOR WEIGHTS
Mkt Cap
( USD Billions)
Index
Wt. (%)
195.86
172.43
172.41
171.31
120.44
117.85
114.40
108.32
102.91
99.24
1,375.16
2.74
2.42
2.42
2.40
1.69
1.65
1.60
1.52
1.44
1.39
19.27
US
US
US
JP
US
US
US
US
US
US
Sector Sector
Wt. (%)
Info Tech
Info Tech
Health Care
Cons Discr
Cons Staples
Health Care
Financials
Telecom Srvcs
Cons Staples
Health Care
18.8
16.6
18.5
18.4
14.5
12.6
8.9
39.7
12.4
10.6
COUNTRY WEIGHTS
10.85%
11.65%
6.8%
7.28%
4.78%
6.46%
14.79%
5.06%
3.83%
13.04%
25.12%
3.37%
18.09%
13.06%
41.23%
14.6%
United States 41.23%
Financials 18.09%
Information Technology 14.6%
Consumer Discretionary 13.04%
Energy 6.46%
Materials 5.06%
Health Care 13.06%
Consumer Staples 11.65%
Germany 4.78%
Japan 25.12%
United Kingdom 7.28%
France 6.8%
Other 14.79%
Industrials 10.85%
Telecommunication Services 3.83%
Utilities 3.37%
INDEX METHODOLOGY
The MSCI Enhanced Value Indexes are designed to represent the performance of securities that exhibit relatively higher value characteristics
within the parent universe of securities. The value z-score for each security is calculated by combining the z-scores of three valuation
descriptors, namely Price-to-Book Value, Price-to-Forward Earnings and Enterprise Value-to-Cash ﬂow from Operations. The indexes are
constructed with a ﬁxed number of securities approach choosing constituents from their Parent index based on their Final Value Scores.
Coinciding with the semi-annual index reviews of the Parent Index, the MSCI Enhanced Value Indexes are rebalanced on the last business
day of May and November.
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MSCI WORLD ENHANCED VALUE INDEX

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