Ameriprise 2007 Annual Report Download - page 8

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6
Ameri
p
rise Financial
200
7 Annual Re
p
or
t
“ While we are not immune
to market weakness and
volatility, our long-term
client relationship focus
and balance sheet strength
helped us effectively
weather these challenges.”
To Our Shareholders (continued)
In fact
,
Active Portfolios
investments has been one of our best new
p
roduct
s
l
aunches, amassin
g
approximately
$
2.9 billion in assets since it opened in
F
e
b
ruary 2007. T
h
is rapi
d
growt
h
contri
b
ute
d
to a strong year-over-year
i
ncrease in our wra
p
account assets, w
h
ic
h
were u
p
23
p
ercent
f
rom
l
ast year.
Anot
h
er important contri
b
utor to t
h
e turnaroun
d
in our asset
management
b
usiness
h
as
b
een so
l
i
d
investment per
f
ormance. T
h
ree- an
d
fi ve-year track records at RiverSource continued to improve, and equity
i
nvestment performance at Threadneedle reached an all-time best.
Combined, these businesses create valuable
g
eo
g
raphic diversity, with
R
iverSource in the U.S. and Threadneedle internationall
y
. We continued
to invest in Threadneedle—includin
g
its acquisition of Convivo Capital
M
anagement in t
h
e secon
d
h
a
lf
o
f
t
h
e year—an
d
t
h
e
b
usiness continue
d
to
d
e
l
iver strong pro
fi
ta
b
i
l
ity.
T
h
e annuity
b
usiness pro
d
uce
d
so
l
i
d
resu
l
ts again in 2007,
d
espite
d
ecreasin
g
b
a
l
ances in
fi
xe
d
annuities
d
ue to
l
ow interest rates. We generate
d
net in
fl
ows
of $4.9 billion in variable annuities as clients continued to
g
ravitate toward
products that provide
g
uaranteed lifelon
g
income.
O
ur protection businesses continued to
g
row, with life insurance inforce
i
ncreasin
g
8 percent, to $187 billion. We are a leader in variable universal
l
ife insurance, and we broadened our protection offerin
g
s durin
g
the year.
W
e intro
d
uce
d
S
uccession Protector
SM
l
i
f
e insurance to
f
urt
h
er a
dd
ress
c
l
ients’ estate p
l
anning nee
d
s as we
ll
as new
d
isa
b
i
l
ity income insurance.
T
h
e a
b
i
l
ity to capture t
h
ese growt
h
opportunities is in
l
arge part
d
ue to t
h
e
ta
l
ent o
f
our peop
l
e. Cross-organizationa
l
teams representing c
l
ient service,
technolo
g
y, marketin
g
, fi nance and other areas work to
g
ether to provide
exceptional support and to protect the company and its assets
.
Employees and advisors express very hi
g
h levels of satisfaction with the
com
p
any, which leads to a commitment to
q
uality in an environment where
en
g
a
g
ement is hi
g
h and corporate values are lived. We operate foremost with
i
ntegrity, an
d
wit
h
a
ll
our energies
f
ocuse
d
on
d
e
l
ivering a consistent
l
y stron
g
an
d
p
ositive Ameri
p
rise Financia
l
ex
p
erience to our c
l
ients.