PineBridge Investments, Taiwan

3 Feb 2017

PAGE 1

Bloomberg2017/2/2%

-0.07

0.12

0.14

0.17

0.20

0.21

0.22

0.36

0.38

0.41

0.43

0.45

0.51

0.61

1.81

0.81

0.63

-1.84

1.49

1.65

0.14

0.13

1.07

0.98

0.97

1.46

2.07

2.21

1.82

3.00

-

-

-

-2.51

-2.44

-1.86

-1.60

-1.51

-0.69

-0.44

-0.20

-0.17

-0.08

0.00

0.11

0.67

0.93

1.87

-1.05

8.37

0.26

3.21

-0.34

1.88

2.79

1.90

6.19

6.43

1.79

8.97

1.66

2.58

6.13

Nikkei 225

BOVESPA

DAX

H

600

500

MSCI

MSCI

MSCI

MSCI

RTS

MSCI

PAGE 3

BarclaysBloomberg2017/2/3%

/

10

1010

0

1

2

3

4

5

6

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

2.47

300

350

400

450

500

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

456

100.04%2.47%

0.18%3.39%128 bps

FED0.50~0.75%(12)2%

0.25%4350GDP0.5%GDP1.4%2%

PAGE 4

0

500

1000

1500

2000

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

350

550

750

950

1150

1350

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

BarclaysBloomberg2017/2/3%

(bps)

*10

10

1211

397

604

/

0.43%5.55%403 bps

0.51%0.18%0.07%

30

11220OPEC21

PAGE 5

100

150

200

250

300

350

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

200

300

400

500

600

700

800

900

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

JPMorganBloomberg2017/2/3%

10

10

793

296

/

0.61%5.61%

0.43%5.44%

2000530

11.8%12.0%20159.0%202920152.3%

PAGE 6

0

200

400

600

800

1000

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

0

50

100

150

200

250

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

JACI(bps)

*10

JACI10

JPMorganBloomberg2017/2/3%

205

230

298

/

0.36%4.61%231 bps

0.41%4.09%0.17%6.72%

111.2%8.7%18.6%8.5%321268

S&P

PAGE 8

8

10

12

14

16

18

20

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

500

1000

1500

2000

2500

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

/

50010

500

*10PE

Bloomberg2017/2/3%

2281

17.52

15.17

S&P 5000.69%22811.07%19891

GDP1.9%3.5%(2.5%)

7

2/2S&P500268(54%)75%3.4%

PAGE 9

0

10

20

30

5

10

15

20

2012 2013 2014 2015 2016

600(lhs) 10

225(rhs) 10

0

5000

10000

15000

20000

150

250

350

450

600(lhs) 225(rhs)

Bloomberg2017/2/3%

BOJ 60022510

/

600225

18915(rhs)

:18.28 ()

362(lhs)

:14.89()

:13.13()

:19.98()

() ()

GDP1.51%

1132.51%

GDP0.5%1.8%20161.7%200811.1%1.8%2%

0.1%10

2017GDP1.3%1.5%

PAGE 10

0

5

10

15

20

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

MSCI10

/

MSCI

*10PE

Bloomberg2017/2/3%

12.03

12.31

0

500

1000

1500

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

915

MSCI0.17%

1.87%

1PMI51750

3.2%GDP6.75%-7.5%

PAGE 12

Bloomberg2017/01/20%Deutsche Bank2017/01/30

1000.57%56.560.45%53.54

EIA646.6255

OPEC95.8/116.4/80%

3.6%

-1.17

-0.45

-0.38

0.49

0.50

0.57

1.03

1.76

2.29

3.18

3.67

10.47

4.09

-0.34

0.52

8.03

6.33

-0.46

4.40

6.50

5.52

10.68

8.86

3.74

CRB

LME

LME

LME

LME

PAGE 14

2212778767

2211572217

2017/02/02

PAGE 15

200

300

400

500

600

700

2012 2013 2014 2015 2016

394.36

60

70

80

90

100

110

2012 2013 2014 2015 2016

0

10

20

30

40

50

2012 2013 2014 2015 2016

15.59

VIX MOVE

CDX

*5CDS

*5VIX

11.93

346.21

*5

67.10

82

Bloomberg2017/2/3

0

20

40

60

80

100

120

140

2012 2013 2014 2015 2016

*5MOVE

69.92

71.15

PAGE 16

212

12 12

1PMI 21CPI 2

2017/2/3

PAGE 17

PineBridge Investments IP Holding Company Limited

()

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PAGE 18

()

Rule 144A

Slide Number 2Slide Number 3Slide Number 4Slide Number 5Slide Number 6Slide Number 7Slide Number 8Slide Number 9Slide Number 10Slide Number 11Slide Number 12Slide Number 13Slide Number 14Slide Number 15Slide Number 16Slide Number 17Slide Number 18Slide Number 19