EFTA01384493.pdf

18 September 2017 Long-Term Asset Return Study: The Next Financial Crisis Long-Term Asset Returns in Charts International equity return charts 'Figure 92: Last 5 Years Annualised Equity Returns - Nominal (left), Rea€ {middle), USD (right) va 01” :V4 sCA. •ru 0% 144 01:04 wilA a 1016 ft% a 144. la la IllI imotonbi INS 4% M. 4% I I I l lilt Ilij Ulu k4 a 10% il 2% : 04 a hililllillillinill •a 1 a 6% 0% 4% dA I ilifiljilr . 15111 lilligiliP111111,01 till SOSO. Cifaft.. lit CFO IFigime 93: Last 25 Years Annualised Equity Returns - Nominal (left), Real (middle), USD (right) .41. Ih an GEM 14% IM 12% 10% Ira 114. In I 3% 10% a. a. /a V. 6% 011 2% .7% 0% 0% 0% Swot tam J 'Figure 94: Last 50 Years Annualised Equity Returns - Nominal (left), Real (middle), USD (right) 0% 20% W. ofid• 0£44 01.4 '4% IT ,," IK 14% IK 2% In I,. HUN b 1V4 9% V. 0% 0% 4% 24 0% 0% 0% IJIJN lit • i fitil 11 Sara: Diana.*Sent 6,0 --•••.- ..... ..... .... ..... -^••••- ..... ..... ..... ..... ..... -^••••- ..... ..... ..... ..... ^••••- ..... ..... ..... ..... -••••- ..... !Figure 95: Last 100 Years Annua ised Equity Returns - Nominal (left), Rea (middle), USD {right) I% i0L in. 10% • •• 4% .10%. I 2% 22% I I, 0% z / £ S Sane Deunthe GM Page Rfi Deutsche Bank AG/London CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0084735 CONFIDENTIAL SDNY_GM_00230919 EFTA01384493