Top 10 EEMEA Ideas Quarterly: Summary of Performance

Research evidence excerpt

Top 10 EEMEA Ideas Quarterly: Summary of Performance

The Top 10 EEMEA Ideas Quarterly List

The Top 10 EEMEA Ideas Quarterly List represents 10 short-term recommendations for

EEMEA companies we cover based on our views of significant market and business

related catalysts that we think will affect these stocks in the quarter ahead. Our idea in

constructing this Top 10 EEMEA Ideas List is to canvass the views of our fundamental

equity teams across each of the 5 clusters which we cover in EEMEA with a view

towards identifying 10 stocks which we believe will either significantly outperform or

underperform their peers in a given sector by the most significant amount during the

quarter. We publish this list at the beginning of each quarter.

Stock Selection, Committee and Investment Process

Given the breadth and scope of our overall coverage of stocks and sectors in EEMEA, we

recognize this recommended list cannot include nor is it designed to include all major

catalysts. Our objective is to identify what we believe will be the highest impact trading

ideas in each quarter which we publish the list. To provide structure and discipline to the

stock selection process, a committee drawn from members of BofA Global Research

Management is responsible for soliciting views on catalysts from our fundamental equity

teams and making determinations of which companies will comprise the list for each

quarter.

In order to qualify as an outperform idea, a stock must have a BUY recommendation

from our fundamental analysts. In order to qualify as an underperform idea, a stock must

have an UNDERPERFORM recommendation from our analysts. Once selected, our

intention is that a stock would remain on the list for that quarter, unless the committee,