Ameriprise 2014 Annual Report Download - page 85

Years Ended
December 31,
2014 2013
(in billions)
Threadneedle Managed Assets Rollforward
Retail Funds
Beginning assets $ 50.6 $ 39.1
Mutual fund inflows 23.4 23.3
Mutual fund outflows (26.0) (18.9)
Net new flows (2.6) 4.4
Reinvested dividends 0.2 0.2
Net flows (2.4) 4.6
Distributions (0.7) (0.5)
Market appreciation 0.8 5.6
Foreign currency translation(1) (2.8) 1.1
Other 1.0 0.7
Total ending assets 46.5 50.6
Institutional
Beginning assets 96.1 87.6
Inflows 13.3 9.2
Outflows (10.8) (11.8)
Net flows 2.5 (2.6)
Market appreciation 5.4 6.7
Foreign currency translation(1) (6.1) 1.6
Other 2.8 2.8
Total ending assets 100.7 96.1
Alternative
Beginning assets 0.7 1.1
Inflows ——
Outflows (0.1) (0.2)
Net flows (0.1) (0.2)
Market appreciation (depreciation) 0.1 (0.2)
Total ending assets 0.7 0.7
Total Threadneedle managed assets $ 147.9 $ 147.4
Total Threadneedle net flows $ — $ 1.8
(1) Amounts represent British Pound to US dollar conversion.
Total segment AUM increased $4.8 billion, or 1%, during the year ended December 31, 2014 driven by market
appreciation, partially offset by a negative impact of foreign currency translation and retail fund distributions. Total segment
AUM net inflows were $2.1 billion for the year ended December 31, 2014. Management expects, consistent with prior
patterns of outflows, that outflows of primarily low margin assets directly or indirectly affiliated with Threadneedle and
Columbia Management former parent companies will continue for the foreseeable future. The overall impact to segment
results is difficult to quantify due to uncertain timing, volume and mix of the outflows.
Columbia Management managed assets increased $4.5 billion, or 1%, during the year ended December 31, 2014
primarily due to market appreciation, partially offset by retail fund distributions. Total Columbia Management net inflows
were $2.3 billion for the year ended December 31, 2014. Columbia Management retail funds decreased $1.7 billion, or
1%, during the year ended December 31, 2014 primarily due to distributions, partially offset by market appreciation.
Columbia Management retail net inflows of $1.1 billion during the year ended December 31, 2014 included $13.4 billion
of reinvested dividends, partially offset by $12.3 billion of net new outflows. Columbia Management retail net new outflows
during the year ended December 31, 2014 included $5.1 billion of outflows in the defined contribution/investment only
channel, $1.5 billion of outflows from a former parent affiliated distribution relationship, $1.5 billion of outflows in the RIA
channel and $1.1 billion of outflows from a third party sub-advisor. Columbia Management institutional AUM increased
$5.1 billion, or 7%, during the year ended December 31, 2014 due to market appreciation. Columbia Management
institutional net inflows of $0.2 billion for the year ended December 31, 2014 primarily reflect third party institutional
inflows, partially offset by former parent affiliated distribution and former parent influenced mandates. Columbia
Management alternative AUM increased $1.1 billion, or 20%, during the year ended December 31, 2014 due to net
inflows of $1.0 billion reflecting the launch of three new CLOs, partially offset by a CLO liquidation.
Threadneedle managed assets were essentially flat compared to the prior year as market appreciation was offset by a
negative impact of foreign currency translation. Threadneedle retail funds decreased $4.1 billion, or 8%, during the year
ended December 31, 2014 primarily due to net outflows and the negative impact of foreign currency translation.
Threadneedle retail net outflows were $2.4 billion reflecting approximately $4.6 billion of outflows from the U.S. equities
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