Ameriprise 2012 Annual Report Download - page 92

Years Ended
December 31,
2011 2010
(in billions)
Threadneedle Managed Assets Rollforward
Retail Funds
Beginning assets $ 33.4 $ 29.1
Mutual fund inflows 17.1 13.6
Mutual fund outflows (16.5) (11.8)
Net new flows 0.6 1.8
Reinvested dividends 0.2 0.1
Net flows 0.8 1.9
Distributions (0.6) (0.4)
Market appreciation (depreciation) (2.4) 3.4
Foreign currency translation(1) (0.2) (1.1)
Other 0.8 0.5
Total ending assets 31.8 33.4
Institutional
Beginning assets 70.9 66.8
Inflows 21.7 7.9
Outflows (11.7) (10.1)
Net flows 10.0 (2.2)
Market appreciation (depreciation) (1.9) 6.7
Foreign currency translation(1) (0.4) (2.4)
Other 2.0 2.0
Total ending assets 80.6 70.9
Alternative
Beginning assets 1.3 1.9
Inflows 0.3 0.3
Outflows (0.5) (0.5)
Net flows (0.2) (0.2)
Market depreciation (0.1) (0.4)
Foreign currency translation(1) ——
Other 0.2 —
Total ending assets 1.2 1.3
Total Threadneedle managed assets $ 113.6 $ 105.6
Total Threadneedle net flows $ 10.6 $ (0.5)
(1) Amounts represent British Pound to US dollar conversion.
Total segment AUM declined $21.3 billion, or 5%, from a year ago to $435.5 billion as of December 31, 2011, driven by
a decrease in Columbia managed assets, partially offset by an increase in Threadneedle managed assets. Columbia
managed assets declined $29.4 billion, or 8%, from a year ago to $326.1 billion as of December 31, 2011, due to a
decrease in both retail funds and institutional funds. The decline in Columbia retail funds reflects net outflows and
distributions, as well as market depreciation. Retail assets remained a significant challenge for the industry. We remained
in net outflows in retail funds at Columbia partially because of weakness in sub-advised accounts as well as outflows from
a few specific funds. The decline in Columbia institutional managed assets reflects net outflows and a $4.7 billion
decrease due to a former parent related program sponsor that shifted assets from a traditional separately managed
account platform to a model-delivery only unified managed account platform that utilizes Columbia models. While the
assets were an outflow, the movement in assets was neutral to earnings. Total Columbia net outflows of $16.7 billion in
2011 included $9.0 billion of outflows of low basis point, former parent company assets. Threadneedle managed assets
increased $8.0 billion, or 8%, from a year ago to $113.6 billion as of December 31, 2011 due to net inflows in
institutional managed assets, partially offset by market depreciation. Threadneedle institutional net inflows of $10.0 billion
in 2011 reflected approximately $14 billion from a strategic relationship with Liverpool Victoria to manage its insurance
and pension fund portfolio.
Average AUM increased $87.6 billion, or 24%, in 2011 compared to 2010 primarily due to the Columbia Management
Acquisition, as well as market appreciation, partially offset by net outflows. The average S&P 500 Index increased 11% in
2011 compared to 2010.
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