THOMSON REUTERS INVESTMENT MANAGEMENT DATAFEEDS

Transcription

1 THOMSON REUTERS INVESTMENT MANAGEMENT DATAFEEDS StarMine I/B/E/S Estimates I/B/E/S Guidance I/B/E/S Aggregates Worldscope Fundamentals Reuters Fundamentals Filings Insider Ownership emaxx Company Profiles Deals SDC Deals StreetEvents Significant Developments Datastream Time Series Content ESG Lipper Data Feed Machine Readable News Tick History Thomson Reuters Proprietary Indices Thomson Reuters Business Classification Delivery Mechanisms and Platforms STARMINE QUANTITATIVE MODELS StarMine is dedicated to making investment research smarter. Analytics and equity research tools like our suite of Quantitative Models help investment professionals around the globe generate alpha and process equity information more efficiently so they can get ideas to market faster. StarMine Quantitative Models are stock selection factors grounded in sound economic intuition and developed using best of breed modeling techniques. These robust models span across regions, sectors and market environments to help you achieve higher returns across a spectrum of investment styles. Differentiators: Performance: StarMine has a rich history of building innovative and profitable stock selection factors. Strict Research Methodology: StarMine models are grounded in fundamental economic intuition, backed by rigorous research and thorough testing. Clear-Box Approach: StarMine provides you with stock selection factors as well as underlying inputs so you enjoy flexible, customizable implementation. Best of breed data: Our models are built using I/B/E/S Estimates, Reuters Fundamentals and other Thomson Reuters content sets that play an integral role in key decision-making across the financial industry. Delivery Platform Update Frequency History Combined Alpha Model 31,000 Value Momentum 30,000 Analyst Revisions Model (ARM): Includes Smart Estimate measures of EPS, EBITDA, Revenue 17,500 Price Momentum 29,000 Intrinsic Valuation (IV) and Relative Valuation (RV) IV: 21,000 and RV: 38,000 Earnings Quality 38,000 SmartHoldings 40,000 Short Interest US only 4,700 Insider Filings US only 5,700 Structural Credit Risk 36,700 SmartRatios Credit Risk 41,100 Text Mining Credit Risk 33,000 Combined Credit Risk Model - 44,000 Daily Updates Monthly and daily history going back to 1998 Daily Updates Monthly history going back to 1998 Daily going back to Oct 2009 Daily Updates Monthly and daily history with monthly going back to 1995 and daily going back to 1998 StarMine SmartEstimate history available back to 1998 SmartEstimate history back to 2009 Daily Updates Monthly and daily history going back to 1998 Daily Updates Monthly going back to 1998 Daily going back to Jan 2009 Daily Updates Monthly going back to 1998 Daily going back to Jan 2009 Daily Updates Monthly and daily history going back to 2000 Daily Updates Monthly and daily history going back to 2004 Daily Updates Monthly and daily history going back to 1998 Daily Updates Monthly and daily history going back to 1998 Daily Updates Monthly and daily history going back to 1998 Daily Updates Monthly and daily history going back to 2002 Daily Updates Monthly and daily going back to 1998

2 I/B/E/S ESTIMATES Analyst forecasts on company performance expressed via 240+ consensus measures, including earnings per share, sales and net income. Differentiators: Thomson Reuters I/B/E/S is the highest quality, most granular and transparent estimates provider. We provide industry leading coverage with decades more history and experience (1976 US), hundreds more brokers (900+), thousands more companies (22,000+) especially in emerging markets for the most complete view of the market. Plus we offer analytics not available anywhere else like StarMine Smart Estimates, StarMine Analyst Ratings and Predicted Surprises. : database of 22,000 active companies and 900+ brokers across 220+ key financial measures (70 company specific measures and 150 industry specific KPIs); includes StarMine SmartEstimates Real Time: Includes all Smart Estimates measures Current: End of day and intraday updates. Smart Estimates for EPS, EBITDA and Revenue Historical: Full time series data back to 1976 and coverage of companies outside the US dating back to 1997 Geographic Delivery Platform Update Frequency History TIBCO Real Time Fiscal periods ending January 2013 and later. Smart Estimates history begins in 2013 * End of Day and Intraday Current Datastream Data Loader (DDL)* * Full history delivered once As far back as 1976 DDL* a month TRKD API I/B/E/S Daily Means End of Day Consensus estimates back to 2001 I/B/E/S V2: 200 measures including KPIs, timestamps for precision and 3 views of currency adjustments, no regional splits and single view of parent/consolidated, and includes all Smart Estimates measures (updates every 15 minutes) Synchronized detail, consensus & preliminary estimates are updated for global stocks every day, including weekends 1980s US Markets 1987 other regions QA Direct I/B/E/S V2 Smart Estimates history for all measures available from 2012 * Partial coverage only THOMSON REUTERS I/B/E/S GUIDANCE Provides comments directly from corporate management about future company expectations. These forward-looking statements focus on sales or earnings expectations in light of industry trends, allowing detailed valuation of a company s earnings potential and outlook picture. Delivery Platform Update Frequency History Current & Historical US The Current Files are 1994 Current & Historical Quantitative available four times on a guidance across daily basis 14 measures, including EPS, Net Income, Sales, and The History Files are available once a week every Friday Operating Profit. Page 2

3 I/B/E/S GLOBAL AGGREGATES Provides bottom-up sector and industry earnings forecasts plus related data. I/B/E/S Aggregates Geographic Includes 56 countries and major international indices to include FTSE, MSCI, S&P, Russell and Topix Delivery Platform Update Frequency History Weekly As far back as 1985 DDL DSWS API WORLDSCOPE FUNDAMENTALS Standardized financial statement data both interim and annual along with per share data, calculated financial ratios, company profile information, security data and market content for over 81,000 companies. Differentiators: Market leading global coverage encompasses companies trading in over 119 markets representing more than 99% of the world s market cap. includes the fastest growing Frontier markets, not covered by the competition. Point in Time offer global, as of content to support backtesting of investment strategies. Delivery Platform Update Frequency History : Provided in four main industry-based covers Daily EOD As far back as 1980 templates (industrial, banks, insurance and over 95% of global other financials) Covers more than 47,000 market cap active and 24,000 inactive companies representing more than 55 established and emerging markets, nearly 96 percent of global stock market value Custom: All companies, data items and history available as above; cut is based on client requirements DDL Daily updates Point in Time: Annual and interim financial statement data (income statement, balance sheet and statement of cash flows). Point date is based on when data became available in the Worldscope data feed. Daily updates Same as but with Monthly Point Dates 09/ /1999, Weekly Point Dates 10/ /25/2006, Daily since 08/2006 Page 3

4 REUTERS FUNDAMENTALS Standardized and as Reported financial statement data both interim and annual along with per share data, calculated financial ratios, company profile information, security data, Officers & Directors and market content for over 90,000 issuers. Differentiators: Market leading global coverage encompasses companies trading in over 169 exchanges representing more than 99% of the world s market cap. includes the fastest growing Frontier markets, not covered by the competition. Point in Time offerring global, as of content to support backtesting of investment strategies. As Reported: All items from the income statement, balance sheet and cash flow. Provides all financial line items reported on the annual and interim financial statements Standardized: Aggregated line items to provide a standard view of the company Point in Time: Annual and interim financial statement data (income statement, balance sheet and statement of cash flows). Point dates are based on source date Business & Geographic Segments: Information for each segment reported by a company on an annual and interim basis Analytics: Pre-calculated ratios based on company standardized financials Business Intelligence: Officers & Directors, Major Customers, Competitors, Business Descriptions Geographic 125 countries O&D, Major customers ; Long descriptions and competitors US only Delivery Platform Update Frequency History TRKD TRKD API TRKD TRKD TRKD TRKD Intraday (every 4 hours); EOD; Weekly refresh Intraday (every 4 hours); EOD; Weekly refresh EOD; Weekly refresh Intraday (every 4 hours); EOD; Weekly refresh Daily Intraday or EOD for specific subsets North America 1983; ex-north Am 1997 Interim: NA 1989; ex-na 2000 North America 1983; ex-north Am-1997 Interim: NA 1989; ex-na 2000 Annual: North Am 1983; ex-north Am 1997; Interim: NA 1989; ex-na 2000 Annual 1998 Interim 2000 Current Only Officers history back to 1998 for North America, ex-na 2003 Page 4

5 FILINGS Top Three Facts Largest, most consistent and authoritative source for global public company corporate disclosure. Through our former exclusive relationships with the SEC, Filings provides unrivaled depth and access to unique US historical documents, including annuals, insider reports and pricing supplements Filings global network of local experts results in unique coverage and unrivaled timeliness, with same day availability of most documents Thomson Reuters Sourcing provides global coverage for over 130 developed and emerging markets. Within the database of record there is up to 50 years of history and 34 million documents in more than 20 languages Unique Characteristics Automated web scraping tools and direct documents feeds ensuring faster turnaround of up to 10 min Standardized EDGAR tags for easy navigation; including Filer status and Document Title Display of SEC Delta reports OCR/CVISTA for scanned documents Documents available in multiple formats including XBRL, HTML and PDF Scope and includes all US and global exchanges, including partial coverage of private companies, US municipal bonds and Fixed Income related documents. Hundreds of document types, including Annual & Quarterly reports, equity and fixed income prospectuses, municipal bonds, M&A, ownership and other regulatory filings. 130 countries; 20 languages 65K global companies; 14K SEC companies (active), 7.5K PVT companies and growing 2.8M docs sourced in 2016: 7,3K filings collected on average every day More than 20K documents captured in a given peak day Geographic Delivery Platform Update Frequency History Filings TRKD API Hourly, Real-Time 1968 Filings Elektron Real Time Hourly, Real-Time 1968 INSIDER Data on equity transactions by individuals and institutions classified as insiders an officer, director, person with a policy-making role in the company or a beneficial owner of a company s stock who are required by their respective governments/regulatory agencies to report direct or indirect holdings. US: Active insider filers include over 8,700 companies and over 427,000 owners Canada: Active insider filers include over 3,400 companies and 60,000 owners UK: More than 27,000 active filers and approximately 373,000 director's dealings Asia: Insider holdings data processed for all listed securities. amounts to ~881,000 Insiders at ~8,300 listed stocks Geographic United States Canada United Kingdom India, Singapore, Taiwan, Hong Kong, China and Australia Delivery Platform Update Frequency History Daily updates 1986 Daily updates October 2003 Daily updates 1998 Daily updates As far back as 1997; Most comprehensive history from 2008 Page 5

6 OWNERSHIP consolidated ownership. Comprehensive collection of global institutional holdings data. spans 13F institutions, mutual, pension, and insurance funds, declarable stakes holders, and U.K. share registers. Differentiators: Our unique depth of historical holdings data enables clients to understand ownership trends over time, essential for validating investment models. Delivery Platform Update Frequency History "OP" global equity ownership owners of securities Daily current view; Weekly Back to 1997 trading in more than 8 quarter view; Quarterly 70 countries; Consolidated full history view TRKD API view of equity ownership for global securities OP equity ownership Americas Owners of securities trading in the Americas Daily current view; Weekly 8 quarter view; Quarterly full history view Back to 1997 OP equity ownership Asia OP equity ownership EMEA Ownership V2 Owners of securities trading in Asia-Pacific Owners of securities trading in the UK and EMEA owners of securities trading in more than 70 countries; Unconsolidated view reflecting all as-reported holdings filings collected by Thomson Reuters Ownership, including mutual fund content; Features split-adjusted and unadjusted presentation and new Analytics data Daily current view; Weekly 8 quarter view; Quarterly full history view Back to 1997 Daily current view; Weekly Back to quarter view; Quarterly full history view Every 30 minutes 1997 THOMSON REUTERS EMAXX emaxx is a powerful web-based ownership and institutional investment profile tool for fixed income professionals. With just a few clicks, you can access the world s most comprehensive and accurate information on institutional investors of all sizes and types. Select firms, portfolios, and investment contacts by multiple criteria, including asset size, location, firm type, job function, and bond characteristics such as CUSIP/ISIN, coupon, maturity, credit sector, collateral and ratings. Key Profile Data Elements Detailed asset breakdown Portfolios under management Investment decision-makers Contact details including addresses and direct-dial phone numbers Key Bond holdings data elements Par amount and net change US Insurance Company transaction activity Issuer name or ticker Range or structure Credit sector Instrument or collateral type Currency or issuer location Ratings Private placement type emaxx Investors located in North America, Europe and Asia in the following market sectors emaxx Markets ABS incl. CDO and Covered Bonds Corporate HY and Inv Grade Government Sovereign and Govt. Agency MBS Agency and Private Label Pass-through, CMO, CMBS and RMBS Regional/Municipal U.S. Muni and International Cities, States and Provences Private Placement 144A and Non-144A Emerging Markets Page 6

7 The emaxx Match module The emaxx Match module instantly loads client portfolios viewable only by users at your firm, placing all holdings information in one powerful, easy to search database. Organize Client and Prospect Holdings Assign internal sales coverage to each firm Identify holders of bonds you want to trade Communicate trade information Benefit from flexible delivery and integration Data Highlights Profile information on over 7,000 buyside firms representing $22.3tln under management Holdings for U.S. and some European insurance companies, US mutual funds and top public pension funds and European, Canadian and Asian mutual funds of more than 50,000 fixed income issuers, over 500,000 bonds and 1.8 million individual positions Over $7trillion in total fixed income par held in more than 19,000 funds, each linked to the firms and investment professionals All emaxx data is also available in Eikon and as a data feed, enabling you to import the data directly into your own system for customized needs. COMPANY PROFILES Institutional and professional profile data for Buy-Side and Sell-Side institutions and contacts. Differentiators: Our shareholding and firm profiles content is the industry-standard for breadth, accuracy and timeliness. With more than 30 years of experience our commitment to quality is supported by strong relationships with investment firms, registrars and local stock exchanges. : 200,000+ investment management and investment research professionals at 26,000 institutions. Geographic Delivery Platform Update Frequency History Buy-Side, Sell-Side, or both Daily refresh Current only Page 7

8 DEALS Thomson Reuters Deal Content includes transactions relating to Equity, Fixed Income, M&A, Syndicated Lending, Joint Ventures and Repurchases, Corporate Takeover Defense, and Shareholder Activism. The database includes more than 2 million transactions in 220 nations and features thousands of data items illustrating the entire deal lifecycle. Equity: Over 270,000 equity capital markets new issues transactions Fixed Income: 765K+ bond deals, including investment grade, high yield and emerging market corporate bonds M&A: Over 1 million global transactions from the 1970s including 295,000+ US-target and 707,000+ non-us-target transactions: Syndicated Loans: Over 284k+ global corporate loan transactions Corporate Takeover Defense: Takeover defense profiles of over 9k+ companies, including details on over 12K+ shareholder rights plan adoptions Shareholder Activism: Detailed histories of over 3,500+ dissident shareholder campaigns, including proxy fights and public shareholder proposals Geographic Delivery Platform Update Frequency History Daily updates 1980 Daily updates item feed; does not have the Event History feed or Consideration data Standard fee offers 250 item feed; Custom feed features up to 1800 items; intraday updates Daily updates 1970 Daily updates 1970 Daily updates 1980 US Weekly updates 1988 Page 8

9 SDC DEALS SDC Platinum provides a robust database for analyzing investment banking and deal trends, identifying comparable deals, monitoring deal activity and generating industry-leading league tables and market share analysis. Mergers and Acquisitions Over 1,050,000 global deals from the 1970s to present +309,000 US M&A deal +745,000 international M&A deals +1,000 fields are captured by mining thousands of sources and contributions from +2,000 advisor desks Industry leading timeliness, deals available in product within 60 minutes of announcement Available via data feeds,, SDC Platinum, Deals Business Intelligence, T1 and Eikon New Issues (Equity & Debt) coverage, from the 1970s to present Over 850,000 debt new issue deals Over 290,000 equity new issue deals +500 fields are captured by mining thousands of sources and contributions from +2,000 advisor desks Available via data feeds, SDC Platinum, Deals Business Intelligence, T1 and Eikon Syndicated Loans coverage from 1965 to present Over 290,000 loan deals +300 fields are captured by mining thousands of sources and contributions from +2,000 advisor desks Available via data feeds, SDC Platinum, Deals Business Intelligence, T1 and Eikon Project Finance coverage from 1972 to present Over 24,000 project finance deals +524 fields are captured by mining thousands of sources and contributions from advisor desks Available via data feeds, T1 and SDC Platinum Repurchases coverage from 1986 to present Over 21,000 repurchases (buyback) deals +180 fields are captured by mining thousands of sources and contributions from +2,000 advisor desks Available via data feeds and SDC Platinum Joint Ventures & Strategic Alliances coverage from 1963 to present Over 150,000 joint venture and strategic alliance deals +100 fields are captured by mining thousands of sources and contributions from +2,000 advisor desks Available via data feeds and SDC Platinum Municipals coverage from 1966 to present Over 570,000 municipal deals +180 fields are captured by mining thousands of sources and contributions from +2,000 advisor desks Available via data feeds and SDC Platinum Corporate Governance coverage from the mid 1980 s Over 12,000 poison pill records Over 3,700 proxy fight records +500 fields are captured by mining thousands of sources and contributions from legal and financial advisor desks Available via data feeds, SDC Platinum, T1 and Eikon Private Equity coverage from 1969 Over 292,000 deals Capture details on private equity backed companies as well as the private equity funds and firms +400 fields are captured by mining thousands of sources and contributions from +400 private equity funds Available via data feeds, T1 and Eikon Page 9

10 Available Deals Standard Feeds Feed Type Frequency History Option # of Deals in 2016 Total Deals History Start Fields in Feed Debt New Issues Daily Daily, 10 Years or 20 Years 38, , Equity New Issues Daily Daily, 10 Years or 20 Years 16, , IPOs Daily Daily, 10 Years or 20 Years 3,526 75, M&A Daily Daily, 10 Years or 20 Years 49,984 1,041, ,329 USM&A Daily Daily, 10 Years or 20 Years 11, , ,329 M&A Consideration Daily 10 Years 49, , ,329 M&A History Event Daily 10 Years 49, , ,329 M&AArbitrage Pricing Daily 10 Years 6,659 74, ,329 Municipals Daily All History 16, , Syndicated Loans Daily Daily, 10 Years or 20 Years 17, , Joint Ventures Daily All History 5, , Custom 108 Poison Pills Weekly All History , Proxy Fights Weekly All History 407 3, ProJect Finance Daily All History 1,455 24, Custom 524 Repurchases Daily All History , Private Equity Weekly All History 13, , lntraday For Any Data Feed Intraday Daily, 10 Years or 20 Years Total Fields in DB Deal counts are as of January 1, Arbitrage feed is free when M&A Standard and M&A Considerations is purchased. STREETEVENTS Corporate disclosures and brokerage events from over 18,000 public companies and hundreds of Sell-Side firms in over 90 countries. Differentiators: Our event-based content offers you a one-stop solution for market-moving corporate disclosure information by bringing together conference call and webcast details, transcripts, call summaries, briefs, guidance, SEC filings and more. We are the largest provider of corporate, institutional and proprietary event content. Delivery Platform Update Frequency History Events: Event information sourced from over Intraday and end of day The full file generates all 18,000 public companies and hundreds of TRKD API forward-looking events in the Sell-Side firms database as well as 120 days of history Transcripts & Briefs: Transcripts of corporate conference calls TRKD API Intraday and end of day Page 10

11 SIGNIFICANT DEVELOPMENTS News analysis and filtering service providing a concise description of each crucial, market-moving, company news event on a near real-time basis. Concise summaries of company-reported events. Differentiators: Filtered summaries and categorization save time, offer insight and allow you to keep abreast of critical news. Standard tagging allows you to isolate different events and utilize for trend analysis and backtesting. Ability to track companies, industries, geographies and topics allow you to focus on key subjects of interest and efficiently monitor peer and competitor activity. : Over 63,000 active companies representing over 99% of world market capitalization; of all constituents of all major indices 150+ exchanges in 116 countries; 35 topics ranging from merger and acquisitions to earnings outlooks. Delivery Platform Update Frequency History Significant Developments QAD TRKD API Intraday, real time and EOD US & Canada history from 2002; Other markets from 2005 DATASTREAM TIME SERIES CONTENT Provides global-securities for multiple asset classes. Differentiators: Our database is the combination of the hallmark Datastream and Ecowin brands. With the 35-year legacy of meeting strict standards, handling revisions and providing consistent histories, content is of the highest quality. ASSET CLASS # INSTRUMENTS/ TIME SERIES** Bond Indices 78,000+ DDL : over 175 Bonds & Convertibles 1,480,000+ DDL Commodities 135,000+ DDL Constituent Lists 281,000+ DDL Economic Series 9,300,000+ DDL (about 150,000 series) Equities 251,000+ DDL Equity Indices 340,000+ DDL Exchange Rates 10,500+ DDL Futures 305,000+ DDL Funds 380,000+ DDL Interest Rates 22,000+ DDL (minimal coverage) Investment Trusts 2,700+ DDL * Options 13,200,000+ DDL Credit Default Swaps 83,000+ DDL * Warrants 2,690,000+ DDL * Delivery Platform Update Frequency History countries and 60 markets worldwide Update frequency can be specified by client but data generally updated EOD Update frequency is not specified by the client for QA Direct. Data is end of day, but the updates are intraday Over 50 years history for some time series * Partial coverage only **Includes Active & Inactive Instrument Page 11

12 ESG ESG provides objective and transparent environmental, social and governance (ESG) information and analysis tools to enable our clients to benchmark, compare and integrate extra-financial information into their investment processes to identify companies with quality management and reduced risk exposure. Differentiators: Thomson Reuters offers the most complete and in-depth environmental, social and governance information and news in the industry. Our data and framework enable investors to make better investment decisions by looking beyond traditional financial metrics to benchmark and monitor how companies are responding to global sustainability trends like climate change, resource depletion and demonstrating industry leadership in governance, business ethics, health and safety, and more. : Environmental, Social and Governance (ESG) data on over 6,000 global companies. 400 strategic ESG data measures are available, structured into 18 categories: representing four areas of corporate performance: economic, environmental, social and corporate governance Geographic Delivery Platform Update Frequency History Core: 23 key scores (18 Categories + 4 Pillars + Every other week As far back as Equal-Weighted company score) DDL DSWS Premium: Core content plus underlying data DDL DSWS Every other week As far back as 2002 LIPPER GLOBAL DATA FEED Thomson Reuters Lipper provides independent insight to asset managers and institutional investors on global collective investments, including mutual funds, retirement funds, hedge funds, and fund fees and expenses. Lipper offers premium quality data, fund ratings, analytical tools, and global commentary through specialized product offerings. Trusted by investment professionals for more than 40 years, Lipper provides unparalleled expertise and insight to the funds industry. Lipper Data Feed provides the most comprehensive global coverage offering insight on mutual funds, retirement funds, pension funds, and fund fees & expenses. Our content is relied upon by financial professionals every day to support detailed analysis, peer comparison, performance reporting and investment selection. And millions of retail investors view Lipper information via their favorite print and digital news publications. We have 40 years of fund industry experience and a reputation for providing unbiased, high quality institutional information. Lipper covers over 292,000 collective investments including mutual funds, closed-end funds, ETFs, hedge funds, domestic retirement funds, pension funds, and insurance products in 61 Registered for Sale (RFS) countries. Lipper classifications and benchmarks provide unmatched granularity enabling more concrete comparative analysis. The Lipper Classification scheme is composed of more than 400 peer groups. Lipper Leaders ratings facilitate fund selection by illustrating how well a fund meets specific investment goals. Lipper Data Feed provides access to fund performance, returns, daily NAVs, risk statistics, benchmarks, asset information, distributions and historical data. Lipper Data Feed also offers key portfolio data and ratios including, full holdings, weight and rank within portfolio, shares held, allocations, EPS Growth, Price to Sales, Price/Book Ratio, Price/Earnings Ratio, Return on Assets, Sales per Share Growth, Weighted Percent Market Caps, and more. Lipper Fee and Expense information including initial sales fees, management fees, and redemption charges. Total Expense Ratios (TERs) and other expense data are also available. Fund Events include events such as Mergers, Liquidations, Name Changes, Cross Reference Changes, and Classification Changes. Delivery Platform Update Frequency History Asset Overview: Profile, Performance, Classifications, Lipper Ratings, Portfolio Allocations & Characteristics Custom Full history since inception for Prices, Distributions and Performance Portfolio Full Holdings Monthly Full history extends back to 2006 where available Page 12

13 LIPPER GLOBAL DATA FEED (continued) Lipper Fund Flows Feed provides detailed content on Estimated Net Fund Flows on a daily, weekly, and monthly basis. Output is in XML and format, and can be easily integrated into outward facing products. Estimated Net Flows are provided as well as Total Net Assets, Changes in Assets, and Standard Performance Periods, and General Fund Information. Fund Flows at the fund level, company level, classification level, and by domicile Geographic Delivery Platform Update Frequency History Daily For markets outside the US, daily data will begin at August 1, 2012 while US content will begin January 1, If fund history exists, the section will include at least 10 years of history. Page 13

14 MACHINE READABLE NEWS 1. Real-Time News Real-Time News includes feed and archive access to Reuters and third-party newswires. : All news alerts, stories and updates that come over the Reuters newswire for companies, commodities, macroeconomic news, and markets including FX, fixed income, futures and equities Reuters operations in 131 countries with 2,600 journalists in 200 bureaus 10,000 stories a day to 450,000 financial professionals and more than 1 billion consumers Over 1,500 Topic Codes and other metadata Corporate & regulatory announcements: Over 40 third-party newswires including major newswires publishing corporate announcements 2. News Analytics News Analytics includes feed and archive access to sentiment, entity relevance, and other NLP-based scores on Reuters and third-party news. Sources: Reuters, over 40 third-party newswires including major newswires publishing corporate announcements. : 33,000 companies, 40 commodities and energy topics. Also scores general news, e.g., macroeconomic news. Scored by: Author sentiment, Relevance, Novelty, Volume. Metadata includes: Company identifiers, topic codes, alert/article/ update, sector and geographic classification. Languages: English and native Japanese. 3. News Sentiment Indices News Sentiment Indices provide trailing-window News Analytics scores of news sentiment and volume on companies and commodities. It is targeted at desktop traders and online portals. 4. MarketPsych Indices Thomson Reuters MarketPsych Indices analyze news and social media in real-time. They convert the volume and variety of professional news and social media into manageable information flows that drive sharper decisions. The indices are delivered as realtime data series that can easily be incorporated into your analysis and decision processes quantitative or qualitative. Asset and Sentiment : 10,000 companies 133 countries 34 commodities 30 currencies 61 unique indexes Text Sources: 40,000: Primary global news sources 7,000: Blogs, stock message boards and social media sites News Analytics includes feed and archive access to sentiment, entity relevance, and other NLP-based scores on Reuters and third-party news. 5. Economic Events It is an ultra-low latency delivery of economic indicators such as GDP, employment and inflation figures, consumer sentiment figures and purchasing manager indices. : Over 1,500 economic indicators, over 70 countries Data Format: Optimized low latency delivery in binary format Connectivity: Available in Washington DC, New York at Equinix NY4 (EBS), Chicago Mercantile Exchange (CME), and London at Docklands (FX Matching) Delivery: Ultra-low latency via Thomson Reuters News Feed Direct Geographic Delivery Platform Update Frequency History Real-time News Feed/Archive Elektron/ Real Time/Monthly 1996 for Reuters, 2003 for other sources News Analytics Feed/Archive Elektron/ Real Time/Monthly 2003 News Sentiment Indices Elektron/ Real Time/Monthly 2003 MarketPsych Indices Minutely 1996 Economic Events News Feed Direct Real Time Page 14

15 TICK HISTORY Captured from Thomson Reuters real-time data feeds, Thomson Reuters Tick History offers global tick data since 1996 across all asset classes, covering both OTC and exchange-traded instruments from 500+ exchanges and third-party contributor data, the majority available two hours after markets close. Thomson Reuters Tick History provides superior coverage of complete, timely, and global nanosecond tick data. This enables you to download the data you need when you need it, via a single interface. Data Unmanipulated recorded trade and quote messages from our Elektron Real Time feeds since Region All Asset Classes Major Third-Party Contributors Exclusive Content : Americas, Asia-Pac, EMEA Equities Fixed Income Foreign Exchange and Money Markets Commodities & Energy Futures Options Economic Indicators MarketAxess ICAP (including EBS and Broker Tec BGC Partners Tullett Tradition WM fixings Tradeweb Thomson Reuters Matching Message types With integrated reference data, Thomson Reuters Tick History enables the creation of seamless historical time series effortlessly and ensures clients can account for trading pattern anomolies and survivorship bias. Time Series Data Trades and Quotes (level 1) Market depth (level 2) Market by Price Market by Order End-of-day prices Intraday summaries (1 sec, 1 min, 5 min, 15 min, hourly) Reference Data Corporate Actions (Corax) Secondary Identifiers (ISIN, CUSIP, SEDOL, RIC, etc.) Item Content Interface API TRTH v2 Recorded from Real Time feeds HTML Based GUI REST Web Services Page 15

16 THOMSON REUTERS PROPRIETARY INDICES Thomson Reuters has been calculating indices for over 30 years. We are uniquely positioned to construct, calculate and distribute indices using an unrivalled amount of cross-asset proprietary content and data. Whether you require indices for benchmarking, for the development of investment vehicles or custom index services, we provide a range of indices and index solutions to meet your needs precisely. With fewer limitations, our indices avoid the usage restrictions and pricing complexities imposed by traditional providers. We support fully IOSCO s approach, which applies a common set of principles across all jurisdictions, and we have been working to ensure full observance of these principles across all benchmarks that we administer. Calculating index families from Suites (TRGEI), Fixed Income entities, Commodity partnerships, Convertible and FX suites, as part of our passive investment strategies. Also offering specialized custom asset classes and calculations along with Smart Beta and Thematic variants. Delivery Platform Update Frequency History Thomson Reuters Equity Index, Custom Prices and compositions Fixed Income, Convertible and custom back to 1999 * approach index suites TRKD API *Partial coverage only THOMSON REUTERS BUSINESS CLASSIFICATION Thomson Reuters Business Classification (TRBC) is the market based system that helps you identify, analyze and monitor industries across global markets. Differentiators: TRBC allows you to view companies at any of five levels: 10 Economic Sectors, 28 Business Sectors, 54 Industry Groups, 136 Industries and 837 Activities. Complete coverage across 130 developed, emerging & frontier countries. : 72,000+ public companies classified more than any other sector classification system and 2.4 million private companies. History available from Powers 5 levels of Thomson Reuters Sector Indices in 51 countries and 23 regions. Geographic Delivery Platform Update Frequency History TRBC QA DIRECT Daily refresh History from 1999 TRKD API Worldscope Daily refresh History from 1999 I/B/E/S QFS DDL (features current TRBC only) Features current and historical business classification in I/B/E/S QFS and monthly history delivery History from 1999 Page 16

17 DELIVERY MECHANISMS AND PLATFORMS is a powerful, scalable platform to manage, maintain and integrate your research and investment data. You will benefit from the advanced database structure, extensive content offerings and efficient implementation of. With you get a direct access to best-of-breed, integrated data from multiple vendors. You can utilize Microsoft SQL Server or Oracle with fully documented database schema and diagrams. Each vendor set is interlinked through our proprietary mapping system, and our database is designed to be fully expandable for additional content sets. can be easily linked to statistical and portfolio optimization software packages, such as SAS, Matlab, R and S-PLUS. ODBC compatibility allows easy links to statistical packages and modern programming languages such as Python and C. Datastream Data Loader (DDL) allows you to pinpoint the exact data you need from our full range of content offerings and retrieve it one of two ways: when the latest updated data becomes available or on an ad-hoc basis. This simple, yet powerful -based solution is the most flexible, easy-to-implement, and cost-effective method of delivering referential data. I/B/E/S Quantitative File System (QFS) is a daily and weekly file system designed for quantitative and analytical users of earnings estimates data. QFS provides users a concise representation of 25 data measures and allows users to easily maintain and manipulate a customized database of earnings estimates. IBES QFS is a daily change system, capturing and reporting detailed estimates revisions as they are received, in addition to consensus data. IBES QFS is delivered in a series of pre-formatted files available to users over a standard connection File Transfer Protocol (): data files via meet the demands of users who need to store and manipulate the data, integrate the data into proprietary analysis or merge the data with other content sets. The files are usually designed to be database ready and work at various levels to meet different user groups requirements. Elektron Real Time is a low-latency consolidated global data feed that delivers full tick, depth-of-market data; helping you to source better quality information and minimize the total cost of ownership of your real time infrastructures. News Feed Direct (NFD) delivers an ultra-low latency feed of Thomson Reuters world-class news content. NFD was designed specifically for application consumption. It offers full text and comprehensive metadata via streaming broadcast with assured delivery to ensure you never miss an important event. Thomson Reuters Knowledge Direct API (TRKD API) meets the demands of users who have a requirement to incorporate data within applications for display purposes whether for internal or redistribution purposes. This API facilitates the delivery of data, news and the capabilities associated with these (Charts, Search, Timeseries, etc.) through SOAP XML web services. QUESTIONS? Contact your IM regional business manager Thomson Reuters S047781/5-17