EFTA Document EFTA01450998

11 December 2013 GEM Equity Strategy Outlook 2014 Summary Negative year in prospect but relative underperformance should slow GEM equities set to underpelform in 2013 by even more titan we had anticipated We intend to review the absolute and relative performance for GEM equities during 2013 in more detail alongside the outcome of our own forecasts later in this document, but with only a few weeks to go, it is very likely that EM will have underperformed DM and in particular the US, by