R1225N
6
8VH FDSDFLWRUV ZLWK D FDSDFLW\ RI ) RU PRUH IRU 9287 SLQ DQG ZLWK JRRG KLJK IUHTXHQF\ FKDUDFWHULVWLFV VXFK DV
WDQWDOXP FDSDFLWRUV :H UHFRPPHQG WR XVH FDSDFLWRUV ZLWK DQ DOORZDEOH YROWDJH ZKLFK LV DW OHDVW WZLFH DV PXFK DV
VHWWLQJ RXWSXW YROWDJHLQ WHUPV RI WKHLQSXW FDSDFLWRUVLWV YROWDJH UDWLQJ LV WZLFH RU PRUH WKDQ LQSXW YROWDJH 7KLV LV
EHFDXVH WKHUH PD\ EH D FDVH ZKHUH D VSLNHVKDSHG KLJK YROWDJH LV JHQHUDWHG E\ DQ LQGXFWRU ZKHQ DQ H[WHUQDO WUDQ
VLVWRULVRQDQGRII
&KRRVH DQ LQGXFWRU WKDWKDV VXIILFLHQWO\ VPDOO '& UHVLVWDQFH DQG ODUJH DOORZDEOH FXUUHQWDQG LV KDUG WR UHDFK PDJ
QHWLF VDWXUDWLRQ ,I WKH YDOXH RI LQGXFWDQFH RI DQ LQGXFWRU LV H[WUHPHO\ VPDOO WKH ,/; PD\ H[FHHG WKH DEVROXWH PD[L
PXPUDWLQJDWWKH PD[LPXPORDGLQJ
8VHDQLQGXFWRU ZLWKDSSURSULDWH LQGXFWDQFH
8VHDGLRGHRID6FKRWWN\ W\SH ZLWKKLJKVZLWFKLQJ VSHHGDQG DOVR SD\DWWHQWLRQWRLWVFXUUHQWFDSDFLW\
'RQRWXVHWKLV,&XQGHUWKH FRQGLWLRQ ZLWK9,1 YROWDJHDWHTXDORUOHVVWKDQ PLQLPXPRSHUDWLQJ YROWDJH
:KHQ WKH WKUHVKROG OHYHO RI DQ H[WHUQDO SRZHU 026)(7 LV UDWKHU ORZ DQG WKH GULYHDELOLW\ RI YROWDJH VXSSOLHU LV
VPDOO LI WKH RXWSXW SLQ LV VKRUW FLUFXLW LQSXW YROWDJH PD\ EH HTXDO RU OHVV WKDQ 89/2 GHWHFWRU WKUHVKROG ,Q WKLV
FDVHWKH GHYLVHLVUHVHWZLWK89/2IXQFWLRQWKDWLVQRWWKHODWFKSURWHFWLRQIXQFWLRQ
:LWK WKH 3:09)0 DOWHUQDWLYH FLUFXLW ZKHQ WKH RQ GXW\ F\FOH RI VZLWFKLQJ LV RU OHVV WKH 51 DOWHUV IURP
3:0 PRGH WR 9)0PRGH 3XOVH VNLS PRGH 7KH SXUSRVH RI WKLV FLUFXLW LV UDLVLQJ WKH HIILFLHQF\ ZLWK D OLJKW ORDG E\
VNLSSLQJ WKH IUHTXHQF\ DQG VXSSUHVVLQJ WKH FRQVXPSWLRQ FXUUHQW +RZHYHU WKH UDWLR RI RXWSXW YROWDJH DJDLQVWLQSXW
YROWDJH LVRUOHVV H[9,1!9DQG9287 9 HYHQ LIWKHODUJH FXUUHQWPD\EHORDGHGWKH ,& NHHSVLWV9)0
PRGH $V D UHVXOW IUHTXHQF\ PLJKW EH GHFUHDVHG DQG RVFLOODWLRQ ZDYHIRUP PLJKW EH XQVWDEOH 7KHVH SKHQRPHQD
DUHWKHW\SLFDOFKDUDFWHULVWLFVRIWKH,& ZLWK3:09)0DOWHUQDWLYHFLUFXLW
7KHSHUIRUPDQFHRI SRZHUVRXUFHFLUFXLWVXVLQJWKHVH ,&V H[WUHPHO\ GHSHQGVXSRQWKHSHULSKHUDOFLUFXLWV
3D\ DWWHQWLRQ LQ WKH VHOHFWLRQ RI WKH SHULSKHUDO FLUFXLWV ,Q SDUWLFXODU GHVLJQ WKH SHULSKHUDO FLUFXLWV LQ D ZD\ WKDW WKH
YDOXHV VXFK DV YROWDJH FXUUHQW DQG SRZHU RI HDFK FRPSRQHQW 3&% SDWWHUQV DQG WKH ,& GR QRW H[FHHG WKHLU UH
VSHFWHGUDWHG YDOXHV