1. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. 2015/1/5 2. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. -0.76 -0.49 -0.23 -0.09 0.00 0.04 0.14 0.28 0.34 0.48 0.58 -1.0 -0.5 0.0 0.5 1.0 : Lipper 2015/1/1 (%) 3. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. Bloomberg 1bp=0.01% :2015/1/2 (%) (bp) (bp) (bp) 4.51 408 417 297 6.95 493 508 335 9.81 862 873 461 4.17 251 259 218 () () () () () 4. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. 6.38 (&) Bloomberg :2015/1/2 2 4.51 6.95 % % 9.81 5. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. 1.2 0.1 -0.3 -1.7 -2.1 -2.2 -2.8 -6.0 -0.7 -0.8 -1.0 -1.2 -1.2 -1.5 -2.1 -2.1 -2.2 -2.4 -8 -6 -4 -2 0 2 MSCI MSCI : Bloomberg 2015/1/2 6. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. l l l -6.20 -15.45 -0.30 -0.57 -3.73 -2.66 -0.75 0.43 0.38 -0.11 -0.60 -0.70 -0.78 -0.90 -0.93 -1.17 -1.38 -1.48 -1.58 -1.59 -18 -16 -14 -12 -10 -8 -6 -4 -2 0 2 C R B 120.5 $1189.23 2.111% $52.69 $1.2002 : Bloomberg 2015/1/2 (%) 7. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. 6.0 2.4 2.4 2.3 2.2 1.5 1.0 0.8 0.6 0.5 -0.1 -0.3 -0.4 -0.7 -0.8 -0.9 -1.0 -1.1 -1.2 -1.5 -1.6 -2.1 -2.1 -3.3 -4.6 -6 -4 -2 0 2 4 6 8 : Bloomberg 2015/1/2 ==225= 8. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. (6%)(2.4%)(2.2%) (2.4%) (-4.6%) (-3.3%) 9. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. 12 50% 273.5 GDP0.7% 2014 17 2015 34.62%32.1% 0.75% 8% 225 3.5 2014/12/30 0555 () - 0648 () () 0460 () (1.2) (0.6) (1.7) 1 Flat35S 10. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. 2015 20145 2015 12014GDP8 AppleFacebook20144 220141133000 32015 201507 2015 2014/12/31 11. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. 2015() 4201435 5 2015 62015 (FTA) TPP()9 2015 7 2015 20156 2014/12/31 12. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. 2015() 2014 8 2014 2014222 2 2014/12/31 13. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. 2015() 9 8.27% 6806.93%534 10 12FOMC 12947877650~850 46510% 2014/12/31 2014 14. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. Bloomberg 15. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. ()Bloomberg : 2015/1/2() 16. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. ()Bloomberg : 2015/1/2 () 17. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. : Bloomberg 12 1/5() Sentix -1.0 -2.5 1/6() 11 -0.4% -0.7% 12 -- 51.1 1/7() 12ADP 22.5 20.8 11() -420 -434 12 -0.1% 0.3% 1/8() 11 0.2% 0.4% 0.5% 0.5% 1/9() 12 24 32.1 12 5.7% 5.8% 0.3% 0.2% 12 1.5% 1.4% 18. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. 21 12 12 QE 50 19. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. (60%) QE 3.5 (40%) 1 (2015/1/5) 20. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. 2 91.089 125 2012 (ESM) 2015 4 21. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. 30 232.1%0.7831.3% 34.6% 201412 62.1%72.92%12 7% 212(PMI)54.52 6524 2649 6 22. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. 2015 1500( 25) 1 1 200 4115965 100 1 23. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. 12 92.6 93.9 91.0 12 0.8% 0.5% -1.2% 12ISM 55.5 57.5 58.7 11 -0.3% 0.4% 1.2% 10CS 4.50% 4.40% 4.82% 11M3 3.1% 2.6% 2.5% 12 0.2% 0.2% 0.3% 12 52.5 53.6 53.3 12 97.5 96.7 96.5 12 48.4 49.5 49.0 : Bloomberg 24. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. 12 50.1 50.0 50.3 12 54.1 -- 53.9 12 49.9 -- 49.0 12 54.5 -- 53.3 12 47.6 -- 48.0 12 11.4% 11.2% 9.1% 12 48.9 49.5 51.7 12 51.4 -- 52.2 12 52.8 53.0 53.2 12 50.2 -- 48.7 12 55.3 -- 54.3 11() -57 -52 -216 : Bloomberg 25. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. (%) MSCI 1704.71 -1.43 -1.94 1.76 -3.33 -0.29 3.56 2058.2 -1.46 -0.83 4.59 3.66 -0.03 12.39 1198.80 -1.35 1.38 8.51 -0.77 -0.49 3.69 341.33 -0.74 -2.75 1.83 -1.90 -0.35 4.18 230.91 -0.10 -0.63 5.15 -2.91 0.01 1.95 225 17450.77 -2.07 0.17 8.14 15.35 0.22 7.36 4391.21 0.86 2.71 5.40 18.18 0.52 23.65 3234.68 2.44 24.38 41.03 62.59 3.06 57.55 MSCI 953.72 0.12 -3.24 -4.37 -10.23 -0.27 -2.63 MSCI 460.24 1.46 -1.03 0.48 -3.73 0.60 5.82 MSCI 297.09 -4.55 -12.78 -18.78 -31.13 0.18 -31.10 MSCI 2637.04 -2.81 -7.73 -15.75 -22.76 -3.32 -15.82 MSCI 268.83 -2.17 -7.14 -9.86 -19.30 -0.72 -16.82 2077.01 0.48 0.24 1.38 2.40 0.00 4.92 220.34 0.28 0.87 1.98 4.77 0.00 11.16 2587.44 0.58 0.34 1.06 1.98 0.00 7.46 311.44 0.00 -1.76 -2.45 -5.62 0.00 -0.09 1048.18 0.14 -0.79 -1.22 -3.00 0.00 2.50 342.20 -0.23 -2.74 -3.29 -9.18 0.00 -4.11 UBS 322.83 -0.49 -1.41 0.19 -5.14 0.05 1.81 698.57 0.04 -1.83 -0.67 -1.15 0.00 7.43 161.77 -0.09 -2.99 -0.80 0.01 0.00 2.88 978.61 -0.76 -3.10 -1.98 -3.39 0.00 3.92 378.65 0.34 -0.58 1.13 2.29 0.00 8.20 BloombergLipper 2015/1/22015/1/1 26. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. (%) () MSCI 238.04 -1.15 -1.21 -11.88 -23.50 0.10 -12.34 MSCI 222.26 -0.67 -3.00 -1.78 -13.71 -0.35 -6.79 MSCI 102.58 -0.99 -1.96 1.84 -2.57 -0.18 1.25 MSCI 184.73 -1.21 -1.16 6.35 -0.13 -0.79 2.30 MSCI 198.32 -2.12 -2.02 3.53 -1.35 -0.80 5.38 MSCI 198.65 -1.54 -1.58 2.60 -4.43 -0.34 -0.78 MSCI 141.02 -2.35 -1.47 5.07 5.73 -0.18 16.08 MSCI 68.14 -2.13 -3.97 -1.30 -6.41 -0.32 -4.27 MSCI 122.93 -2.16 -0.21 -0.21 -0.03 -0.11 13.66 MSCI 200.05 -0.83 -3.36 3.28 4.32 0.08 16.99 NBI 3203.90 -0.10 -0.74 11.30 15.27 0.83 35.67 AMEX 167.81 3.08 1.09 -11.57 -29.99 2.31 -17.53 REITs FTSE 14448.84 0.19 3.07 13.86 11.90 1.41 29.20 REITs FTSE 1762.25 0.33 3.44 15.48 12.71 1.50 31.75 REITs FTSE 1245.93 -1.20 -0.04 8.72 5.79 -0.58 24.98 REITs FTSE 1523.54 0.21 1.42 5.87 0.99 0.17 14.90 (/) 1189.23 -0.57 0.05 0.15 -9.65 0.70 -3.55 (/) 15.75 -2.01 -1.79 -7.77 -24.02 1.81 -20.76 (/) 6255.00 -0.75 -2.48 -5.24 -12.21 -0.71 -15.39 (/) 56.42 -5.10 -19.50 -39.77 -49.75 -3.02 -47.98 (/) 52.69 -3.73 -21.39 -42.32 -50.26 -2.83 -44.91 CRB 228.41 -2.66 -9.48 -17.34 -25.53 -0.67 -17.40 954.89 -3.00 -1.20 4.24 -10.45 -1.01 -6.86 : Bloomberg 2015/1/2 27. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. (%) 1.2002 -1.49 -2.85 -5.71 -12.29 -1.36 -12.44 120.50 -0.16 0.70 -9.81 -15.55 -0.69 -13.59 1.5328 -1.48 -1.90 -4.97 -10.77 -1.88 -6.84 1.0017 -1.44 -2.80 -4.84 -11.26 -1.26 -10.22 1.1785 -1.36 -3.18 -5.74 -9.53 -1.60 -9.77 0.8089 -0.39 -3.32 -8.25 -14.22 -1.65 -10.34 1103.44 -0.43 0.35 -3.70 -8.97 -1.72 -4.02 31.7730 -0.11 -2.76 -4.82 -6.51 -1.14 -6.00 6.2077 0.09 -1.12 -1.35 -0.30 -0.27 -2.73 12545.00 -1.10 -2.87 -3.55 -7.49 -2.16 -3.80 63.2950 0.43 -2.53 -2.80 -5.32 -0.54 -1.68 32.9700 -0.16 -0.04 -1.37 -1.91 -0.41 0.11 1.3313 -0.61 -1.10 -4.60 -6.77 -0.89 -5.20 3.5165 -0.74 -2.02 -8.04 -9.99 -1.29 -7.25 44.8050 -0.23 -0.93 -0.39 -3.30 -0.61 -0.66 11.6832 -0.74 -3.31 -4.50 -8.18 -1.44 -9.29 2.3450 -1.13 -3.80 -3.50 -9.40 -0.64 -7.61 58.7500 -9.81 -11.07 -33.04 -42.11 2.12 -44.12 3.5862 0.13 -6.12 -8.42 -15.54 -1.73 -15.04 264.81 -1.69 -6.71 -8.90 -14.55 -1.97 -17.66 3.7363 -1.85 -4.20 -7.55 -14.42 -1.77 -12.41 2.6942 -0.94 -4.64 -7.40 -17.47 -1.36 -11.37 14.8384 -0.83 -3.43 -9.90 -12.43 -0.79 -11.96 8.5553 -0.05 -0.19 -1.31 -4.89 -1.06 -23.50 : Bloomberg 2015/1/2 28. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. (%) () (bp) 30 2.6880 -12.9 -27.9 -43.5 -78.1 -6.4 -123.7 10 2.1105 -13.9 -19.6 -32.4 -52.8 -6.1 -88.4 0.3290 -0.1 -9.2 -18.9 -24.1 0.0 -41.2 0.4980 -9.1 -24.3 -40.4 -78.9 -4.3 -144.3 0.4980 -9.1 -24.3 -40.4 -78.9 -4.3 -144.3 0.7790 -11.8 -23.4 -47.1 -97.1 -4.7 -177.8 1.7420 -24.3 -26.9 -58.3 -116.7 -14.8 -222.8 1.4970 -23.1 -35.4 -61.5 -123.2 -11.4 -247.4 2.4180 -29.6 -39.4 -65.2 -120.9 -26.9 -341.7 2.4560 -5.2 -5.4 -55.8 -100.8 -6.2 -196.6 8.0400 15.0 19.0 -166.0 -85.0 2.0 -248.0 13.0068 -2.4 249.7 357.0 448.0 512.3 512.3 3.6000 0.0 8.0 -103.0 -79.0 -201.0 -201.0 7.9970 -6.7 23.2 -35.3 -39.3 2.8 3.9 12.3210 -11.3 36.0 -10.3 26.5 90.3 144.5 5.8400 -8.3 -8.7 -18.5 3.6 -0.4 -56.8 2.6560 0.6 5.1 -16.9 -43.1 5.1 -102.4 7.8590 -2.4 0.8 -64.4 -28.4 6.3 -113.8 7.8760 -10.5 -6.2 -61.0 -79.0 1.9 -96.1 9 2.6010 -17.5 -19.0 -74.8 -110.7 -137.0 -137.0 : Bloomberg 2015/1/2 29. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd. / (02)770-88888 6633 (03)620-5699 897 (04)3700-7988 360171 (07)972-1188 39 103027 30. Copyright2014EzfundsSecuri:esInvestmentConsul:ngEnterpriseLtd.