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  "docSlug": "f3f23ae4a447",
  "documentTitle": "Bank of East Asia, Limited (0023.HK)",
  "authorId": "02_Elliott_Management",
  "authorName": "Elliott",
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  "presentationDate": "2016-02-04 00:00:00",
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  "notes": "The slide uses a line chart to show indexed performance and a table to show annualized returns over various time horizons.",
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      "kind": "callout",
      "text": "Based upon TAR over the past 1, 3 and 5 years, BEA has underperformed an index of its peer group Family-run HK listed Banks by 28.1%, 28.8% and 13.1%, respectively",
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      "text": "Indexed total returns since April 1997",
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      "text": "Despite a period of outperformance during the years prior to the appointment of the current Chairman in April 1997, BEA has since significantly underperformed its peers and has generated a negative shareholder return since 2011\nBased upon TAR over the past 1, 3 and 5 years, BEA has underperformed an index of its peer group Family-run HK listed Banks by 28.1%, 28.8% and 13.1%, respectively",
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      "text": "Total Annualised Returns: 28.1%",
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      "kind": "source-note",
      "text": "Source: Bloomberg. Note: 1. Shown from he date of appointment of BEA's current Chairman on 9 April 1997. 2. Total Annualised Returns up to 3 February 2016, with dividends reinvested. 3. Leading HK Banks Index consists of HSB and BOC HK. 4. Family-run HK Banks Index consists of the following banks: WHB, WLB, DHB, CHB and DSB. Index returns calculated to he day following takeover/sale announcement",
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      "text": "Total Annualised Returns table comparing BEA to indices",
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      "kind": "title",
      "text": "BEA shareholders have since 1997 suffered much poorer returns compared with shareholders of Leading HK Banks and Family-run HK Banks",
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