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Financial Times 2010 Fund Image summary of findings

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  • 1. FT Fund Image Survey 2010 Daniel Rothman Director of Research, Americas 212-641-6468 daniel.rothman@ft.com
  • 2. 2Background &Methodology
  • 3. 3Methodology Measuring the standing and profile of 24 leading asset management companies among US financial intermediaries. Conducted by FT Global Research team Survey Period: August 27, 2010-September 22, 2010 Online survey carried out in English Incentive: Amazon Kindle and 1 year subscription to FT Kindle Edition Sample Source: Money Media database select of 7,000 financial advisors recruited via email invitation Sample size: 316 (response rate: ~5%) Source: 2010 FT Fund Image Study
  • 4. 4Fund Image 2010: Survey Contents Asset Management firm awareness - 24 Firm usage/consideration/previous usage Attributes most important in fund selection process - 13 Brand performance against these attributes -14 Best firm in each attribute Asset management firm rankings Best overall Lost/Losing confidence in Rising stars Product/ Asset allocation plans for next 6 months Preferred resources for investing/ market insights Usage of new/social media How FA’s spend their time at work Source: 2010 FT Fund Image Study
  • 5. 2010 FT Fund Image: 24 Brands Measured
  • 6. 6Fund Image 2010: Respondent Profile Type of Firm I Work For National Wirehouse 51% RIA Firm/ Financial Planner/ Banks 26% Independent Brokerage 9% Regional Brokerage 8% Insurance Company 3% Other 3% # Of Years as a Planner/ Advisor Less Than 5 Years 8% 5 to Under 10 Years 15% 10 to Under 15 Years 20% 15 Years or More 57% Source: 2010 FT Fund Image Study
  • 7. 7Fund Image 2010: Respondent Profile Value of Fund You Personally Manage or Have Influence Over Less Than $100 Million 57% $100 Million to $499.9 Million 33% $500 Million to $999.9 Million 6% $1 Billion to $4.9 Billion 3% $5 Billion or More 6% How Are You Compensated For Your Services Majority Commission Based 24% Majority Fee-Based 28% Hybrid Compensation Structure 40% Other 8% Source: 2010 FT Fund Image Study
  • 8. 8 Majority of AUM are Advised on Behalf of IndividualsQ. What percentage of assets under advisement is advised on behalf of Individuals? On behalf of Institutions? Institutions 11% Individuals 87% Source: 2010 FT Fund Image Study
  • 9. 9Attributes MostImportant inFirm SelectionProcess
  • 10. 10 Most Important Drivers…Trustworthiness, Financial Strength/Long Term Stability & ReputationQ. Please rate the importance of each of the following company attributes/ characteristics when considering an Asset Management firm toplace your assets with. 5 - High Importance 4 3 - Neutral 2 1 - Not important Trustworthy 81% 15% 3% 1% Financial strength and LT stability 68% 25% 6% 1% Reputation 68% 24% 6%1% Risk Management 60% 30% 9% 1% Transparent 56% 31% 10% 1% Investment Process 53% 30% 14% 2% 1% Service 51% 32% 14% 2% 1% Performance leader 47% 41% 12% Fees 45% 34% 18% 2% 2% Range of funds 31% 31% 26% 5% 6% Innovative 30% 32% 33% 4% 1% Global presence 26% 28% 34% 5% 6% Sales / marketing materials 20% 33% 36% 6% 4% Source: 2010 FT Fund Image Study
  • 11. Intermediary Trend in Attribute Importance: 2010 vs. 09 % Very Important Trustworthy 81% Transparent 56% Trustworthy & transparent 78% Confidence in firms LT stability 68% 65% Risk Management 60% Investment Process 53% Service 51% 50% Fees 45% 37% Range of funds 31% 28% 2010 Innovative 30% 18% 2009 Global presence 26% 19% Sales/marketing materials 20% 13%
  • 12. 12Brand Competition:Looking at the 14Measured & How TheyRank on the Attributes
  • 13. 13 Brand Rankings Against Individual AttributesQ. Please rank how closely you associate each of the following attributes against each Asset Management company. All answering 4 or 5. Trustworthy Financial strength and long term stabilityFranklin Templeton 85% Fidelity 88% PIMCO 83% Blackrock 87% Blackrock 81% Franklin Templeton 86% PIMCO 86% J.P. Morgan Funds 82% Contact Daniel for additional findings Source: 2010 FT Fund Image Study
  • 14. 14 Brand Rankings Against Individual AttributesQ. Please rank how closely you associate each of the following attributes against each Asset Management company. All answering 4 or 5. Reputation Risk Management PIMCO 92% PIMCO 79%Franklin Templeton 86% Blackrock 75% Blackrock 83% Franklin Templeton 69% Fidelity 80% Contact Daniel for additional findings Source: 2010 FT Fund Image Study
  • 15. 15 Brand Rankings Against Individual AttributesQ. Please rank how closely you associate each of the following attributes against each Asset Management company. All answering 4 or 5. Transparent Performance Leader PIMCO 72% PIMCO 87% Franklin Templeton 69% Blackrock 73% Blackrock 65% Contact Daniel for additional findings Source: 2010 FT Fund Image Study
  • 16. 16 Brand Rankings Against Individual AttributesQ. Please rank how closely you associate each of the following attributes against each Asset Management company. All answering 4 or 5. Investment Process Service Franklin Templeton 65% Blackrock 79% PIMCO Blackrock 64% 72% PIMCO 63% Contact Daniel for additional findings Source: 2010 FT Fund Image Study
  • 17. 17 Brand Rankings Against Individual AttributesQ. Please rank how closely you associate each of the following attributes against each Asset Management company. All answering 4 or 5. Fees Innovative Fidelity 64% Blackrock 70% PIMCO 54% PIMCO 64%Blackrock 53% Contact Daniel for additional findings Source: 2010 FT Fund Image Study
  • 18. 18 Brand Rankings Against Individual AttributesQ. Please rank how closely you associate each of the following attributes against each Asset Management company. All answering 4 or 5. Range of Funds Global Presence Fidelity 84% Franklin Templeton 80%Franklin Templeton 73% Blackrock 79% Blackrock 68% Contact Daniel for additional findings Source: 2010 FT Fund Image Study
  • 19. 19 Brand Rankings Against Individual AttributesQ. Please rank how closely you associate each of the following attributes against each Asset Management company. All answering 4 or 5. Sales / marketing materials (insights, papers, etc.) Blackrock 64% Fidelity 61% Franklin Templeton 60% J.P. Morgan Funds 59% PIMCO 59% Contact Daniel for additional findings Source: 2010 FT Fund Image Study
  • 20. 20Product/ AssetAllocation PlansOver Next 6 Months
  • 21. 21 Allocation Shifts Planned: Asset ClassesQ. Over the next 6 months, how do you expect each of your Product/ Asset Allocations to shift? Significant Increase Moderate Increase Stay the Same Moderate Decrease Significant Decrease Emerging Market Equities 15% 51% 29% 1% 4% Emerging Market Bonds 8% 39% 43% 8% 2% International Equities (developed markets) 8% 43% 40% 8%1% US Equities 7% 48% 34% 8% 3% Options 5% 30% 61% 2% 4% Hedge Funds / Private Equity 5% 29% 53% 8% 6% Real Estate / REITs 4% 39% 47% 7%2% US: Municipal Bonds 4% 29% 50% 14% 3% International Bonds (developed markets) 3% 33% 49% 13% 2% Cash / Short Term 3% 15% 32% 35% 14% US: Corporate Bonds 3% 20% 48% 24% 5% US: Treasuries 1%5% 34% 34% 26% Source: 2010 FT Fund Image Study
  • 22. 22 Trends in Allocation Plans: Asset ClassesQ. Over the next 6 months, how do you expect each of your Product/ Asset Allocations to shift? Increase Stay the Same Decrease 2010 66% 29% 5% Emerging Market Equities 2009 67% 26% 7% Emerging Market Bonds 2010 47% 43% 10% 2009 34% 55% 11% 2010 51% 40% 9% Int’l Equities (Dev. Mkts) 2009 44% 45% 10% 2010 55% 34% 11% US Equities 2009 40% 46% 14% 2010 35% 61% 6% Options 2009 33% 57% 11% Hedge Funds/Pvt Equity 2010 34% 53% 14% Hedge Funds 2009 27% 52% 21% Private Equity 2009 20% 55% 24% Source: 2010 FT Fund Image Study
  • 23. 23 Trends in Allocation Plans: Asset Classes - 2Q. Over the next 6 months, how do you expect each of your Product/ Asset Allocations to shift? Increase Stay the Same Decrease Real Estate/ REITs 2010 43% 47% 9% Real Estate 2009 39% 42% 19% 2010 33% 50% 17% US: Municipal Bonds 2009 43% 42% 15% 2010 36% 49% 15% Int’l Bonds (Dev. Mkts) 2009 28% 59% 12% 2010 18% 32% 49% Cash/ Short Term 2009 14% 33% 54% 2010 23% 48% 29% US: Corporate Bonds 2009 33% 48% 18% 2010 6% 34% 60% US: Treasuries 2009 5% 32% 62% Source: 2010 FT Fund Image Study
  • 24. 24 Allocation Shifts Planned: ProductsQ. Over the next 6 months, how do you expect each of your Product/ Asset Allocations to shift? Significant Increase Moderate Increase Stay the Same Moderate Decrease Significant Decrease Annuities 12% 44% 36% 6%2% Separately Managed Accounts 9% 38% 42% 10% 2% ETFs - Passive managed 9% 36% 51% 3% 1% Retirement Plans (IRA, 401Ks) 9% 49% 41% 0% 1% Active Mutual Funds 9% 39% 41% 9% 2% ETFs - Active managed 7% 41% 50% 1% 2% Target Date Funds 4% 9% 70% 11% 5% Collective investment Trusts 3% 12% 73% 6% 7% (CITs) Source: 2010 FT Fund Image Study
  • 25. 25 Trends in Allocation Plans: ProductsQ. Over the next 6 months, how do you expect each of your Product/ Asset Allocations to shift? Increase Stay the Same Decrease Separately Managed Accts 2010 47% 42% 11% Managed Accts 2009 57% 31% 13% ETFs Actively Managed 2010 48% 50% 3% ETFs Passively Managed 2010 45% 51% 4% ETFs 2009 60% 34% 5% 2010 47% 41% 11% Active Mutual Funds 2009 48% 42% 11% Source: 2010 FT Fund Image Study
  • 26. 26 ETF Shifts Planned: Segmented by Firm TypeQ. Over the next 6 months, how do you expect each of your Product/ Asset Allocations to shift? Sign. Increase Mod. Increase Stay the Same Mod. Decrease Sign. Decrease ETFs: Passive managed (NET) 9% 36% 51% 3% 1% National Wirehouse 11% 37% 49% 2% 1% Regional brokerage 5% 38% 57% Independent brokerage 15% 46% 35% 4% RIA Firm / Financial Planner / Banks 3% 27% 64% 5% 2% ETFs: Active managed (NET) 7% 41% 50% 2% 1% National Wirehouse 9% 44% 42% 3%2% Regional brokerage 32% 68% Independent brokerage 20% 40% 40% RIA Firm / Financial Planner / Banks 36% 64% Source: 2010 FT Fund Image Study
  • 27. 27Resources forInvesting/ MarketInsights
  • 28. 28 Most Used MediaQ. How often do you use each of the information sources listed below for investing/ market insights? Use frequently Use occasionally Never Use Data Providers (Lipper, Morningstar) 58% 36% 6% News / Business Websites (FT.com, Fundfire.com, Ignites.com) 57% 36% 6% Newspapers (WSJ, FT) 54% 34% 12% Asset Management Firm Materials / Websites 43% 48% 9% Business Magazines (Barrons, Business Week, etc) 38% 51% 12% Financial Trade Magazines / Journals (Registered Rep, 34% 49% 16% InvestmentNews, etc) Business Television Programs 30% 44% 26% Conferences or Sponsored Events 19% 59% 22% Source: 2010 FT Fund Image Study
  • 29. 29 Most Important Media SourcesQ. Please select the two (2) sources that are the most important for your investment / market knowledge? Newspapers (WSJ, FT) 40% Data Providers (Lipper, Morningstar) 39% News/Business Websites (FT.com, Fundfire.com, 36% Ignites.com) Asset Management Firm Materials/Websites 32% Business Magazines (Barrons, Business Week, etc) 19% Business Television Programs 14% Conferences or Sponsored Events 13% Financial Trade Magazines/Journals (Registered Rep, 7% InvestmentNews, etc) Source: 2010 FT Fund Image Study
  • 30. 30Streaming, SocialMedia, Twitter forWork
  • 31. 31 New/Social Media Used for Work PurposesQ. How often do you do each of the following for work-related purposes? Frequently Sometimes Never Listen to / watch a webcast 33% 53% 14% View / send streaming video 15% 51% 34% Use professional networking sites 13% 31% 56% (e.g., LinkedIn, Plaxo) Listen to / download a podcast 10% 36% 54% Read blogs 8% 34% 58% Use social networking sites (e.g., 6% 16% 78% Facebook, MySpace) Receive RSS feeds 4% 22% 75% Use Twitter 2%4% 94% Source: 2010 FT Fund Image Study
  • 32. 32Asset ManagementFirm:- Familiarity- Usage
  • 33. 33 Leading in Familiarity: American Funds, Franklin, PIMCO, Fidelity & BlackRockQ. How familiar are you with each of the Asset Management companies listed below? Please indicate how familiar you are, regardless ofwhether you use/have used them. Very familiar Fairly familiar Know just by name Not at all familiar American Funds 72% 23% 4% Franklin Templeton 67% 27% 5% PIMCO 67% 25% 7%1% Fidelity 64% 30% 6% BlackRock 60% 29% 10% 1% OppenheimerFunds Nuveen Investments Legg Mason Invesco Janus Vanguard J.P. Morgan Funds Source: 2010 FT Fund Image Study
  • 34. 34 Familiarity Continued…Q. How familiar are you with each of the Asset Management companies listed below? Please indicate how familiar you are, regardless ofwhether you use/have used them. Very familiar Fairly familiar Know just by name Not at all familiar Ameriprise Lord Abbett Calamos Putnam Investments Alliance Bernstein Contact Daniel for Dreyfus these findings T. Rowe Price Schwab Funds Russell Investments Principal Funds SSgA Funds Aberdeen Source: 2010 FT Fund Image Study
  • 35. 35Brand Rankings - unaided- Best Overall- Lost/Losing Confidence-Rising Stars
  • 36. 36 Best Overall Reputation - unaidedQ. Please list up to 3 Asset Management firms you consider to have the Best Overall Reputation Contact Daniel for these findings Source: 2010 FT Fund Image Study
  • 37. 37 Lost/Losing Confidence in - unaidedQ. Please list up to 3 Asset Management firms you are have Lost or are Losing Confidence In Contact Daniel for these findings Source: 2010 FT Fund Image Study
  • 38. 38 Rising Stars - unaidedQ. Please list up to 3 Asset Management firms you consider to be Rising Stars Contact Daniel for these findings Source: 2010 FT Fund Image Study
  • 39. THANK YOUFor more information please contactDaniel RothmanDirector of Research, Americas212-641-6468daniel.rothman@ft.comwww.ft.com

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