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Global Market Intelligence (GMI)Putting market intelligence at the heart of successfulasset management businesses
Global Market Intelligence - GMIOne platform, two modules, three core datasets 2019 1
Global Market Intelligence - GMIThe largest data sharing consortium of its kind drives analysis of over 33 trillion in institutional and 42 trillion in global funds assetsAB GlobalAberdeen Standard InvestmentsAcadian Asset ManagementAegon Asset ManagementAllianz Global InvestorsAMGAmerican CenturyAmundiAQRArtemisAsset Management OneAVIVA InvestorsAXA Investment ManagersBaillie GiffordBAMLBaringsBarrow, Hanley, Mewhinney & StraussBlackRockBlueBayBMOBNP Paribas Investment PartnersBNY MellonBrightSphereCandriamCapital GroupCarmignac GestionCenterSquareCohen & SteersColumbia ThreadneedleComgestCopper Rock Capital PartnersCredit SuisseDanske CapitalDodge & CoxDWSEaton VanceEdmond de RothschildE FundsEurizonFidante PartnersFidelity InternationalFidelity FIAMFirst QuadrantFirst StateFisch Asset ManagementFranklin Templeton InvestmentsGAMGenerali InvestmentsGMOGoldman Sachs Asset ManagementGW&KHarding LoevnerHexavestHSBC Global Asset ManagementInsight Investment ManagementInvescoInvestecJanus HendersonJP Morgan AMJupiterKames CapitalLegg MasonLGIMLombard OdierLoomis, Sayles & CompanyLord AbbettLyxorM&GMacquarieMaj InvestMAN GroupMatthews AsiaMediolanumMFSMitsubishi UFJMorgan StanleyMuzinich & Co.Natixis Global Asset ManagementNeuberger BermanNewtonNikko Asset ManagementNN Investment PartnersNomura Asset ManagementNorthern TrustNordeaOFIOppenheimer FundsOyster FundsParametricPartners CapitalPictetPIMCOPGIMPinebridgePioneer InvestmentsQuoniam Asset ManagementRobecoRoyal London Asset ManagementSchrodersSkagen FundsState Street Global AdvisorsStorebrandSwiss & GlobalT Rowe PriceThompson, Siegel & WalmsleyTIAA/NuveenTwentyFour Asset ManagementUBS Asset ManagementUnigestionUOB Asset ManagementVontobel Asset ManagementWellingtonWells Fargo Asset Management 2019 2
Global Market Intelligence - GMITo generate the most comprehensive analytics possible, we augment secondary datasets from ourgrowing number of global data partnerships5500FundSquareRegulatory filingsAssociation dataPSNMSCIMorningstar &LipperPartnershipESG dataT1PartnershipBroadridgePreqinProprietary dataPartnership 2019 3
GMI Analytics & FunctionsFour analytical capabilities embedded across five core asset management IBUTIONANALYTICSCOMPETITIVEANALYTICSAssets, flows, fees andrevenues by product,vehicle, country, client anddistribution channelMarket benchmarking andcompetitive positioningby asset, flowand revenue shareDistribution channelbreakdowns with namedsub-advisor and institutionalconsultant intelligenceNamed competitive metricsincluding size, ratings,growth, performance, feesand sector alphaProduct & StrategyEvidence strategic planning andproduct developmentTrack against targets, benchmarkproduct characteristics & discoverdifferentiatorsAlign product specifications with theclients and channels driving flowsAnalyse competing products andmeasure the factors driving commercialperformanceDistribution & SalesInform sales planning, identifyopportunities and inform tacticsAnalyse coverage and analysecompetitive positioningIdentify prospects, distribution partners Measure competitive advantage andand trends in their allocationsinform conversationsManagement & LeadershipEnable evidenced-based strategicMeasure business performance anddecision making and informed businesstrack against growth targetscasesFocus resources on the most valuablemarket segmentsMeasure the factors driving commercialperformanceResearch & IntelligenceEmbed robust market analytics acrosskey business functionsGenerate accurate and informedreporting on competitive positionSupport sales with key consultant anddistributor intelligenceTrack competitors, identify disruptorsand analyse competitive trendsMarketing & ClientUnderstand trends, changing clientbehaviour and patterns of demandMeasure campaign performance, client Understand the behaviour of strategicretention and benchmark KPIsdistribution partnersMeasure your strengths andweaknesses to inform messaging 2019 4
GMI Market AnalyticsAnalyse opportunity across all products, vehicles, countries, clients and distributorsOpportunity Metrics Across Retail and InstitutionalAnalysis of Fund Launches & ClosuresMay 2018 – April 2019 Fund Launches27,500Equities GlobalUnique Cross-Border Analysis200AUMNetFlowItalian 3rd Party Fund AUM Growth22,500FoFs Mixed50015045017,500can I trackWheresuccessful12,500fund launches,failuresand closures?7,500MixedAUM BMixed Asset AllocationGlobal AUM and 2018 Net-Flow ( B)40010035030050250Howdo I ess?market2002,5000Bonds Emerging Markets-2,500Equities Themes-7,500-50500Equities Asia Pacific2010140201190FoFs Equities-600-100Fund ClosuresUS active fundamental equity Fees by mandate size80400900Fund MergersInstitutional IM Fee BPSFund LaunchesTrue Negotiated Fee Analysis7060How do I form aneffective fee strategyand inform RFPresponses?50403020Net Flow BEquities Emerging Markets9020122013Cross BorderBonds Asia Pacific20142015Domestic2016201720182019Round TripTrends in Product Demand Across All VehiclesCumulative Institutional Equity Net-Flow40-10-60Full global vehicle coverage2018 Net-Flow tree by vehicle-11010-1600Large Cap 50m50 - 100mMid/Smid Cap100 - 250mSmall Cap250 - 500m500m -210Q4/2011Q4/2012Equity Index - GlobalQ4/2013Q4/2014Equity - Multi-factorQ4/2015Q4/2016Equity - Global EMQ4/2017Q4/2018Equity - Global 2019 5
GMI Market AnalyticsA detailed and comprehensive source of Alternatives market analyticsBy enhancing our consortium data with the datawe engineered via our partnership with Preqin, weare able to produce a comprehensive view on theAlternatives landscape.Institutional Alternatives AUM AnalysisTrends in Hedge Fund Net-FlowAUM BNet-Flow B3,3873002,6982502001,268150Trends in Private Asset Capital RaisingUK Pension Capital Raised B530514232160100 107bn net outflow from hedgefunds since Q3 201450Private Equity Hedge fund140Real Estate Infrastructure Private DebtAUM BAUM BBuyout1001,716Which regions andEarly Stage / Ventureclients are driving fundraising for my products? Growth8071255360Balanced40Expansion / Late Stage92Turnaround239320Hybrid0Q1/2014 Q1/2015 Q1/2016 Q1/2017 Q1/2018 Q1/2019Alts - Private DebtAlts - Private 19202011Hedge Fund AUMPrivate Equity AUM120NaturalResources39620122013330Alts - HF - MA - Multi-strategy329Alts - HF - Alternative Beta198137Long Bias / 130/30120MA - Multi-strategy91FI - Multi-strategy91Commodities67Relative Value65Asset Backed63Market Neutral47Alternative Beta35Other/undefined201720183718Alts - HF - FI - Multi-strategy9Alts - HF - FI - Event Driven9Alts - HF - Commodities9Where are the growthsegments in thealternatives space?Alts - HF - Managed futures / CTA-15Alts - HF - Macro / Directional-30Alts - HF - Multi-strategy-31Alts - HF - Fixed income-35Alts - HF - Equity2122016Net-Flow BEvent DrivenFixed income2015Top 5 & Bottom 5 Hedge Fund Sectors by Net-Flow Since Q3 2014Macro / DirectionalManaged futures / 2014-52-60-40-2002040 2019 6
GMI Market AnalyticsDetailed true fee levels, trends, discounting and benchmarkingWhich segments aremore or less sensitiveto fee levels?Analysis of Fee Sensitivity% of Gross Inflow 2018 by True IM Fee QuintileThe GMI Fee Module enables members to measure truenegotiated fees in detailed product, client and regionalsegments. It also includes discounting analysis, fee level trends,benchmark analytics, and correlations with flows to allow for abetter understanding of the shape of demand in differentsegments of the market.Low SensitivityHigh SensitivityHighest quintile2nd quintileMiddle quintile4th quintileLowest quintile100%80%60%40%20%0%Analyse the Changing Shape of DemandUS DB PensionHow should I price tocompete effectively inspecific marketsegments?70605040Global EMD Separate Account BPS20100Weighted Average bpsTrends in True IM FeeTrue Fee And Break Point Benchmarks30Outflow Weighted Average bpsInflow Weighted Average bpsMarket Median80706050403020100Fundamental Active Equity BPSMy Median10090-5.4% 5yr CAGR80706050 50m50 - 100m100 - 250m500m 250 - 500m201320142015201620172018 2019 7
GMI Benchmarking AnalyticsMarket share and competitive positioningTrue Negotiated Fee BenchmarksHK Pensions Global Active Equity Separate Account True Fee80Market MedianAm I pricingcompetitively?My Organic Growth %APAC Pension Market Share Matrix (inc. Cross-Border Business)True Negotiated Fee BPS70Market Share AnalysisMy Median6050403020100 50mHow is my businessperforming relative tothe competition?50 - 100m100 - 250mMarket Share Trends40% Japanese Pension Market Share Trend byDetailed Competitive Positioning250 - 500mProduct35%Market Share %Market Organic Growth %How am I trackingagainst my growthtargets?500m 30%25%20%15%10%5%Where am I winning,where am I losing, andhow do I compare?0%20142015Bonds High YieldFoFs Equities20162017Equities EuropeFoFs Mixed20182019FoFs BondsFoFs Real Estate 2019 8
GMI Distribution AnalyticsNamed intermediary and distributor analysisDetailed Client AnalysisGlobal AUM and 2018 Net-Flow ( B)200Trends in Distributor Channel27,500Net-Flow B150AUM BUS Fund Distributor Net-Flow 17% 3yr CAGRAUMNetFlow22,50015017,500100100Net-Flow BWhich channels andclient groups presentthe best opportunity200for my h distributionchannels are growingfor my products and inwhich markets?-50-100Named Sub-AdvisorNamed ConsultantEMEA 3rd Party Sub-Advised AUM ranked by group (B )Q4 Intermediated DB Alternatives Gross Flow (%)-150-200Cambridge AssociatesDWSHamilton Lane Advisors LLCLloyds Banking Group plcSt James's Place GroupTorreyCove Capital Partners Marsh Mc Lennan CompaniesPortfolio Advisors LLC-250NEPCGAM HoldingMeketa Investment GroupUniversal-Investment GmbHMercer Investment -300Jan-16Jan-17Jan-18Jan-19BankDiscountDual RegisteredIndependentPrivate BankRIARetirementRetirement-5500Trust CoWirehouseStepStone Group LPAon HewittCallan Associates0%Am I covering theintermediaries that aredriving flows in my focussegments?10%20%AmundiRussell GroupNordea ABBNP Paribas0100 2019 9
GMI Competitive AnalyticsEvaluate competitive landscape, positioning and performance factorsCompetitive Positioning AnalysisPerformance Factor AnalysisActive Flexible Bond SectorFund 3yr Return %Active Equity Fund Return vs Sector ReturnFee QuintileFee QuintileFee Quintile(BPS)(AUM %)(Net-Flow )1stFee Quintile2nd Fee Quintile3rd Fee Quintile4th Fee QuintileWhat are the factorsthat will enable me tocompete effectively?5th Fee QuintileHow can I visualise mycompetitivelandscape?Return DecileReturn DecileReturn Decile(3ry Return %)(AUM )(Net-Flow )1st Return Decile2nd Return Decile3rd Return Decile4th Return DecileSector 3yr Return %5th Return Decile6th Return DecileWho is winning, who islosing, and what is drivingthis?7th Return Decile8th Return Decile9th Return Decile10th Return Decile 2019 10
GMI Service and PartnershipA close working relationship with our members driven by our 11 part serviceAccess to the underlying datasets to enable members to undertake detailed analysis, modelling and integration with other datasetsMarket MatrixSizes key segments by both total and addressable assets to measure the full market opportunity and evaluate the coverage of the GMI datasetsagainst the full marketDashboardsGMI dashboards provide a powerful analytical and visualisation tool which enables members to intuitively explore and interrogate our uniquedatasetsCustom ReportsCustom reports enable product or market analytics to be focused and aligned with our members’ strategic priorities and business structuresBenchmarksOur automated benchmarking reports provide detailed annual market share, rankings and competitive positioning metricsTutorialsWebinars and one-one tutorials help members extract the maximum value from GMI with practical guidance, tips and supportCustomisationOur team of experts work closely with our members to help them build custom visualizations and automated sales and benchmarking reportsAnalytical SupportOur team of analysts support members with more complex analytical queries and data issuesPublished ReportsOur regular reports bring the GMI dataset to life by bringing together our unique analytics and our Insights work to explore the drivers of key themesand trends unearthed by the dataset each quarterGlobal EventsGlobal events bring our members together and enable us to present our unique analytics, insights from our team of experts, and future developmentplans in a social settingWebinar SeriesRegular GMI webinars are delivered by Broadridge's Insights team which can be joined live as an interactive session, or accessed at any time on theGMI platformDataPlatformPartnershipPublications & Events01201Direct Data 2019 11
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Fund Closures Fund Mergers May 2018 - April 2019 Fund Launches Cumulative Institutional Equity Net-Flow Trends in Product Demand Across All Vehicles 2018 Net -Flow tree by vehicle Full global vehicle coverage -50 0 50 100 150 -7,500 -2,500 2,500 7,500 12,500 22,500 27,500 AUM NetFlow Where can I track successful fund launches,
