Our distribution is focused on the institutional and sub-advisory channels,
reached through both Affiliate-led and complementary, Company-led sales efforts.
Our Affiliates have teams of established sales and client service professionals
with broad and deep relationships across the major segments of the institutional
investor community. Consistent with our partnership philosophy, Affiliates develop
and maintain client relationships independently of both us and each other, while
maintaining the option to participate in Company-led complementary distribution
initiatives in the domestic sub-advisory, defined contribution, and selected
global markets. In aggregate, our Affiliates have approximately 150 sales and
marketing professionals servicing over 650 institutional and sub-advisory clients.
We launched our Company-led Global Distribution platform in 2012, which consists
of a team of experienced channel and regional marketing specialists focused
on developing new business opportunities for our Affiliates. In the U.S., complementing
and enhancing the distribution capabilities of the Affiliates, we have one executive
and four sales and marketing professionals focused on cultivating relationships
in the sub-advisory (mutual fund and variable annuity) and defined contribution
channels. We also maintain independent relationships with institutional investment
consultants. If requested, our team also provides strategic marketing support
for the Affiliates. Outside the U.S., where scale is a meaningful advantage
to support geographic reach and servicing capabilities, we have a Global Distribution
team consisting of ten dedicated and strategically deployed sales and marketing
professionals focused on developing client relationships and gathering assets
in Canada, the United Kingdom, continental Europe, Benelux, the Nordics, Asia
(excluding Japan) and the Middle East.
The institutional channel accounts for 63% of our AUM. Within this channel,
we have strong relationships in the public/government pension market (32% of
our AUM) and the corporate plan market (20% of our AUM), which comprise a substantial
portion of the institutional investment market overall, particularly in the
U.S. Our institutional marketplace clients are highly diverse across segments
and geographies and have various growth characteristics.
