Prudential 2015 Annual Report Download - page 39

Assets Under Management
The following table sets forth assets under management by asset class and source as of the dates indicated.
December 31,
2015 2014 2013
(in billions)
Assets Under Management (at fair market value):
Institutional customers:
Equity ........................................................................................ $ 59.9 $ 63.8 $ 63.4
Fixed income ................................................................................... 289.9 270.0 243.8
Real estate ..................................................................................... 39.3 36.2 34.5
Institutional customers(1) ..................................................................... 389.1 370.0 341.7
Retail customers:
Equity ........................................................................................ 121.4 122.8 117.0
Fixed income ................................................................................... 73.7 61.0 51.5
Real estate ..................................................................................... 2.2 2.3 2.2
Retail customers(2) .......................................................................... 197.3 186.1 170.7
General account:
Equity ........................................................................................ 7.4 7.7 8.9
Fixed income ................................................................................... 367.5 368.1 347.2
Real estate ..................................................................................... 1.8 1.6 1.4
General account ................................................................................ 376.7 377.4 357.5
Total assets under management ........................................................................ $963.1 $933.5 $869.9
(1) Consists of third-party institutional assets and group insurance contracts.
(2) Consists of: individual mutual funds and variable annuities and variable life insurance separate account assets; funds invested in proprietary mutual
funds through our defined contribution plan products; and third-party sub-advisory relationships. Fixed annuities and the fixed-rate accounts of variable
annuities and variable life insurance are included in the general account.
The following table sets forth the component changes in assets under management by asset source for the periods indicated.
December 31,
2015 2014 2013
(in billions)
Institutional Customers:
Beginning Assets Under Management ................................................................... $370.0 $341.7 $313.7
Net additions (withdrawals), excluding money market activity:
Third-party .................................................................................... 21.2 0.7 19.4
Affiliated ...................................................................................... (4.8) 1.8 (0.4)
Total ..................................................................................... 16.4 2.5 19.0
Market appreciation (depreciation) ...................................................................... 2.6 26.9 10.3
Other increases (decreases)(1) ......................................................................... 0.1 (1.1) (1.3)
Ending Assets Under Management ...................................................................... $389.1 $370.0 $341.7
Retail Customers:
Beginning Assets Under Management ................................................................... $186.1 $170.7 $138.7
Net additions (withdrawals), excluding money market activity:
Third-party .................................................................................... 0.8 4.7 4.4
Affiliated ...................................................................................... 9.2 (0.5) 1.6
Total ..................................................................................... 10.0 4.2 6.0
Market appreciation (depreciation) ...................................................................... 1.4 11.6 26.7
Other increases (decreases)(1) ......................................................................... (0.2) (0.4) (0.7)
Ending Assets Under Management ...................................................................... $197.3 $186.1 $170.7
General Account:
Beginning Assets Under Management ................................................................... $377.4 $357.5 $374.6
Net additions (withdrawals), excluding money market activity:
Third-party .................................................................................... 0.0 0.0 0.0
Affiliated(2) ................................................................................... (1.1) 3.9 7.4
Total ..................................................................................... (1.1) 3.9 7.4
Market appreciation (depreciation) ...................................................................... (1.5) 25.8 (2.8)
Other increases (decreases)(1) ......................................................................... 1.9 (9.8) (21.7)
Ending Assets Under Management ...................................................................... $376.7 $377.4 $357.5
Prudential Financial, Inc. 2015 Annual Report 37