WDR » Topics » Institutional channel

This excerpt taken from the WDR 8-K filed Oct 27, 2009.

Institutional channel

 

Gross sales of $277 million fell 47% compared to the second quarter and 51% compared to last year’s third quarter.  While the pipeline for new mandates remains healthy, investment decisions and mandate reallocations continue to lag.  Reallocation activity by clients of Pictet & Cie. continued, accounting for a sizable portion of this channel’s redemptions during the quarter.

 

This excerpt taken from the WDR 8-K filed Jul 28, 2009.

Institutional channel

 

Gross sales of $526 million improved 33% compared to the first quarter, but declined 21% compared to last year’s second quarter.  Net flows remain positive at $92 million.  The increase in redemption activity during the quarter was largely due to reallocations by clients of Pictet & Cie.

 

As a result of the sale of ACF, beginning in the third quarter of 2009 we will no longer include ACF’s assets under management in our Institutional channel.

 

This excerpt taken from the WDR 8-K filed Apr 28, 2009.

Institutional channel

 

Gross sales during the quarter were $395 million, a 10% decline compared to the fourth quarter of 2008 and a 43% decline compared to the first quarter of 2008.  Flows were positive in each comparative period with net inflows of $118 million in the current period, $80 million during the previous quarter and $358 million during the first quarter of 2008.

 

These excerpts taken from the WDR 10-K filed Feb 27, 2009.

Institutional Channel

        WRIMCO and ACF market their investment advisory services to institutions directly or through consultants that assist with the manager selection process. Most of our institutional business is in defined benefit pension plans and subadvised mutual funds. A significant amount of assets are also managed for defined contribution pension plans, foundations, endowments, Taft-Hartley plans, high net worth individuals and insurance company general accounts.

        Over the past several years, we have expanded our distribution efforts in this channel by entering into additional subadvisory agreements with certain strategic partners. As part of the acquisition of MIMI's business in 2002, we entered into new subadvisory and marketing agreements extending MFC's subadvisory agreements with IICO and providing us with additional investment management opportunities in Canada. Pursuant to these subadvisory agreements, we receive investment management fees covering multiple funds. The subadvisory agreement with MFC is renewable on an annual basis.

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        Through our strategic alliance agreement with Securian, we agreed to become investment adviser for substantially all equity assets managed by Advantus. In addition, the Company manages as separate accounts certain actively managed equities in the Minnesota Life and Securian Holding Company general accounts.

        During the past three years, our institutional asset flows were negatively impacted by underperformance at ACF, although we maintain a solid reputation in the institutional asset management business, built on a very competititve performance record and on our disciplined investment style, which focuses on risk adjusted returns and produces consistent results over time.

Institutional Channel



        WRIMCO and ACF market their investment advisory services to institutions directly or through consultants that assist with the manager
selection process. Most of our institutional business is in defined benefit pension plans and subadvised mutual funds. A significant amount of assets are also managed for defined contribution pension
plans, foundations, endowments, Taft-Hartley plans, high net worth individuals and insurance company general accounts.



        Over
the past several years, we have expanded our distribution efforts in this channel by entering into additional subadvisory agreements with certain strategic partners. As part of the
acquisition of MIMI's business in 2002, we entered into new subadvisory and marketing agreements extending MFC's subadvisory agreements with IICO and providing us with additional investment management
opportunities in Canada. Pursuant to these subadvisory agreements, we receive investment management fees covering multiple funds. The subadvisory agreement with MFC is renewable on an annual basis.



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HREF="#bg72801a_main_toc">Table of Contents



        Through
our strategic alliance agreement with Securian, we agreed to become investment adviser for substantially all equity assets managed by Advantus. In addition, the Company manages
as separate accounts certain actively managed equities in the Minnesota Life and Securian Holding Company general accounts.




        During
the past three years, our institutional asset flows were negatively impacted by underperformance at ACF, although we maintain a solid reputation in the institutional asset
management business, built on a very competititve performance record and on our disciplined investment style, which focuses on risk adjusted returns and produces consistent results over time.



This excerpt taken from the WDR 8-K filed Jan 27, 2009.

Institutional channel

 

Gross sales during the quarter were $439 million, a 22% decline compared to the third quarter of 2008 and a 60% decline compared to the fourth quarter of 2007.  Flows were positive in each comparative period with net inflows of $80 million in the current period, $283 million during the third quarter of 2008 and $768 million during the fourth quarter of 2007.

 

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This excerpt taken from the WDR 8-K filed Oct 28, 2008.

Institutional channel

 

Gross sales during the quarter were $560 million, a 16% decline on a sequential quarter basis, but nearly twice the volume in last year’s third quarter.  Sales continue to be largely driven by our subadvisory relationship with Pictet & Cie.  Net inflows of $283 million during the quarter compare favorably to inflows of $196 million last quarter and outflows of $236 million during the comparable quarter in 2007.

 

This excerpt taken from the WDR 8-K filed Jul 29, 2008.

Institutional channel

 

Gross sales during the quarter were $664 million, a 5% decline during the quarter and nearly a four-fold increase compared to last year’s second quarter.  Sales continue to be largely driven by our subadvisory relationship with Pictet & Cie.  Net flows of $196 million during the quarter represent a respectable annualized quarterly growth rate of 9%.

 

Demand for our Large Capitalization Growth style remains strong not only through Pictet & Cie’s distribution network, but also in the traditional institutional market, which continues to favor this investment style.  The pipeline looks promising but prospects remain in the early or mid-stage of development as the closing cycle is being elongated by volatile markets.

 

This excerpt taken from the WDR 8-K filed Apr 22, 2008.

Institutional channel

 

Gross sales of $696 million during the quarter were driven by our subadvisory relationship with Pictet & Cie.  There has been material improvement in the pipeline in several different investment styles and our existing defined benefit business is very stable at present.  We subadvise a total of $3.9 billion of other firm’s mutual funds, and accordingly, routinely experience redemptions and sales of these retail products.

 

These excerpts taken from the WDR 10-K filed Feb 29, 2008.

Institutional Channel

        WRIMCO and ACF market their investment advisory services to institutions directly or through consultants that assist with the manager selection process. Most of our institutional business is in defined benefit pension plans and subadvised mutual funds. A significant amount of assets are also managed for defined contribution pension plans, foundations, endowments, Taft-Hartley plans, high-net worth individuals and insurance company general accounts. During the past two years, our institutional asset flows were negatively impacted by underperformance at ACF, although we maintain a solid reputation in the institutional asset management business, built on a good performance record and on our investment style, which over time has brought steady and consistent results.

        Over the past five years, we have expanded our distribution efforts in this channel by entering into additional subadvisory agreements with certain strategic partners. As part of the December 16, 2002 acquisition of MIMI's business, we entered into new subadvisory and marketing agreements extending

9



MFC's subadvisory agreements with IICO and providing us with additional investment management opportunities in Canada. Pursuant to these subadvisory agreements, we receive investment management fees covering multiple funds. The subadvisory agreement with MFC expires in 2008 and is renewable on an annual basis.

        Through our strategic alliance agreement with Securian, we agreed to become investment adviser for substantially all equity assets managed by Advantus. In addition, the Company manages as separate accounts certain actively managed equities in the Minnesota Life and Securian Holding Company general accounts.

        We also have a subadvisory relationship with Pictet & Cie of Switzerland, initially established in mid-2006, that employs our large-cap investment style. Assets under management for Pictet & Cie grew to $1.3 billion by December 31, 2007.

Institutional Channel



        WRIMCO and ACF market their investment advisory services to institutions directly or through consultants that assist with the manager selection process. Most of
our institutional business is in defined benefit pension plans and subadvised mutual funds. A significant amount of assets are also managed for defined contribution pension plans, foundations,
endowments, Taft-Hartley plans, high-net worth individuals and insurance company general accounts. During the past two years, our institutional asset flows were negatively
impacted by underperformance at ACF, although we maintain a solid reputation in the institutional asset management business, built on a good performance record and on our investment style, which over
time has brought steady and consistent results.



        Over
the past five years, we have expanded our distribution efforts in this channel by entering into additional subadvisory agreements with certain strategic partners. As part of the
December 16, 2002 acquisition of MIMI's business, we entered into new subadvisory and marketing agreements extending



9











MFC's
subadvisory agreements with IICO and providing us with additional investment management opportunities in Canada. Pursuant to these subadvisory agreements, we receive investment management fees
covering multiple funds. The subadvisory agreement with MFC expires in 2008 and is renewable on an annual basis.



        Through
our strategic alliance agreement with Securian, we agreed to become investment adviser for substantially all equity assets managed by Advantus. In addition, the Company manages
as separate accounts certain actively managed equities in the Minnesota Life and Securian Holding Company general accounts.



        We
also have a subadvisory relationship with Pictet & Cie of Switzerland, initially established in mid-2006, that employs our large-cap investment style.
Assets under management for Pictet & Cie grew to $1.3 billion by December 31, 2007.




This excerpt taken from the WDR 8-K filed Jan 29, 2008.

Institutional channel

 

Gross sales of $1.1 billion during the fourth quarter were significantly higher than our previous run rate.  The improvement in sales comes primarily from Pictet & Cie., a leading international private bank based in Geneva, Switzerland, supported by our Large Cap product.  Investors’ enthusiasm has reignited demand for this investment style and we particularly benefited on the strength of our investment performance record.

 

This excerpt taken from the WDR 8-K filed Oct 23, 2007.

Institutional channel

 

Gross sales of $282 million during the quarter increased 106% compared to the second quarter but 18% lower when compared to the same period in 2006.  Net outflows were $260 million.  During our second quarter’s earnings call, we announced that we had received a notice of withdrawal from one of our institutional clients.  We expected a liquidation of approximately $300 million; however, the actual redemption was for $133 million.

 

This excerpt taken from the WDR 8-K filed Apr 26, 2007.

Institutional channel

Outflows rose during the quarter to $546 million compared to outflows of $296 million during the fourth quarter and $278 million during the first quarter of 2006.  The increase in outflows stems from higher redemption activity, and resulted in a redemption rate of 48.0%.  Redemptions were varied and spread across many investment disciplines, including large cap growth, small cap growth, core equity, and international growth.

This excerpt taken from the WDR 10-K filed Mar 1, 2007.

Institutional Channel

WRIMCO and ACF market their investment advisory services directly to institutions or through consultants which assist with the manager selection process. Most of our institutional business is in defined benefit pension plans, and a significant amount of assets are managed for defined contribution pension plans, foundations, endowments, Taft-Hartley plans, high-net worth individuals and insurance company general accounts. During the past two years, our institutional asset flows were negatively impacted by a combination of underperformance at ACF and a block of client assets moving to an alternative investment. We maintain a solid reputation in the institutional asset management business, built on a good performance record and on our investment style, which over time has brought steady and consistent results.

Over the past five years, we have expanded our distribution efforts in this channel by entering into additional subadvisory agreements with certain strategic partners. As part of the December 16, 2002 acquisition of MIMI’s business, we entered into new subadvisory and marketing agreements extending MFC’s subadvisory agreements with IICO and providing us with additional investment management opportunities in Canada. Pursuant to these subadvisory agreements, we receive investment management fees covering multiple funds. The subadvisory agreement with MFC expires in 2007 and is renewable on an annual basis.

Through our strategic alliance agreement with Securian, we agreed to become investment adviser for substantially all equity assets managed by Advantus. In addition, the Company manages as separate accounts certain actively managed equities in the Minnesota Life and Securian Holding Company general accounts.

This excerpt taken from the WDR 8-K filed Jan 31, 2007.

Institutional channel

Outflows of $296 million during the quarter were up from outflows of $59 million during the third quarter of 2006, but improved from outflows of $355 million during the same period in 2005. The current quarter was impacted by two redemptions which, when combined, exceeded $300 million.

"Institutional channel" elsewhere:

Janus Capital Group (JNS)
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