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  "documentTitle": "Morgan Stanley | Mergers and Acquisitions Presentation Deck | 21 slides",
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  "authorName": "Morgan Stanley",
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  "presentationDate": "2020-10-01 00:00:00",
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  "notes": "This slide provides methodological context for financial data presented on slides 13 and 14.",
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      "text": "1. Assets Under Management represents the addition of Morgan Stanley's Investment Management AUM based on the Firm's 2020 2Q Form 10-Q and Eaton Vance's AUM based on Eaton Vance's 2020 3Q Form 10-Q. 2. Total Net Flows represents the addition of Morgan Stanley's Investment Management and Eaton Vance's cumulative Total Net Flows. Figures represent 14 quarters of cumulative total net flows from 1Q 2017 to 2Q 2020 for Morgan Stanley and cumulative total net flows over 14 fiscal quarters from 2Q 2017 to 3Q 2020 for Eaton Vance. Figures represent the latest available financials. 3. 2019 Revenues represents addition of Morgan Stanley's Investment Management Net Revenues based on the Firm's 2019 Form 10-K and Eaton Vance's 2019 Form 10-K. Figures represent the latest available full fiscal year financials. 4. EPS and CET1 impacts are Morgan Stanley estimates. For EPS, estimated cost synergies are phased in over three years from the closing date of the transaction. 5. The calculation of ROTCE uses pro forma net income applicable to Morgan Stanley less preferred dividends as a percentage of pro forma average tangible common equity ('TCE'). Tangible Book Value per Common Share ('TBVPS') equals pro forma TCE divided by period end common shares outstanding, as adjusted for the transaction. Pro forma ROTCE and Tangible Book Value per Share are non-GAAP financial measures that the Firm considers useful for analysts, investors and other stakeholders to assess operating performance.",
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      "text": "1. Provider of Individual Separate Accounts Ranking based on Cerulli Lodestar's Separate Managed Account Industry Manager Leaderboard as of June 30, 2020. 2. Gross Sales represents gross sales from long-term asset classes for the period from January 1 through June 30, 2020 for Morgan Stanley and 9 month fiscal year-to-date period starting on October 31, 2019 and ending July 31, 2020 for Eaton Vance.",
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