Wealth & Finance July 2017

21 July 2017 Company: THEAM - BNP Paribas Name: Sébastien Denry Email: sebastien.denry@bnpparibas.com Web Address: www.theam.bnpparibas Address: 14 rue Bergère 75009 Paris - France Telephone: +33 1 58 97 70 27 Exhibit 1: Sources of alternative risk premia for equities and bonds Source: BNP Paribas Asset Management, June 2017 “Cheap, low risk, profitable companies with the strongest past returns should offer the highest potential future returns.”