Ameriprise 2015 Annual Report Download - page 83

Years Ended
December 31,
2015 2014
(in billions)
Threadneedle Managed Assets Rollforward
Retail Funds
Beginning assets $ 46.5 $ 50.6
Mutual fund inflows 20.2 23.4
Mutual fund outflows (18.8) (26.0)
Net new flows 1.4 (2.6)
Reinvested dividends 0.2 0.2
Net flows 1.6 (2.4)
Distributions (0.7) (0.7)
Market appreciation 1.8 0.8
Foreign currency translation(1) (2.2) (2.8)
Other 0.4 1.0
Total ending assets 47.4 46.5
Institutional
Beginning assets 100.7 96.1
Inflows 9.9 13.3
Outflows (16.8) (10.8)
Net flows (6.9) 2.5
Market appreciation 1.9 5.4
Foreign currency translation(1) (4.6) (6.1)
Other 2.9 2.8
Total ending assets 94.0 100.7
Alternative
Beginning assets 0.7 0.7
Inflows ——
Outflows — (0.1)
Net flows — (0.1)
Market appreciation — 0.1
Total ending assets 0.7 0.7
Total Threadneedle managed assets $ 142.1 $ 147.9
Total Threadneedle net flows $ (5.3) $ —
(1) Amounts represent British Pound to US dollar conversion.
Total segment AUM decreased $33.7 billion, or 7%, during the year ended December 31, 2015 driven by net outflows,
retail fund distributions and a negative impact of foreign currency translation, partially offset by market appreciation. Total
segment AUM net outflows were $15.8 billion for the year ended December 31, 2015. Management expects, consistent
with prior patterns of outflows, that outflows of primarily low margin assets directly or indirectly affiliated with Threadneedle
and Columbia 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 managed assets decreased $26.5 billion, or 7%, during the year ended December 31, 2015 primarily due to net
outflows and retail fund distributions. Total Columbia net outflows were $8.9 billion for the year ended December 31,
2015. Columbia retail funds decreased $19.3 billion, or 8%, during the year ended December 31, 2015 primarily due to
net outflows and distributions. Columbia retail net outflows of $2.6 billion during the year ended December 31, 2015
included $1.3 billion related to a client’s decision in the third quarter to exit its portfolio due to asset allocation and
$2.0 billion of outflows from a former parent affiliated distribution relationship. Underlying Columbia retail outflows were
largely driven by $8.2 billion of outflows from the Columbia Acorn Fund, as well as market volatility that decreased
investor demand, offset by reinvested dividends. Columbia institutional AUM decreased $6.4 billion, or 8%, during the year
ended December 31, 2015 due to net outflows of $7.0 billion primarily reflecting outflows from former parent affiliated
distribution and former parent influenced mandates.
Threadneedle managed assets decreased $5.8 billion, or 4%, during the year ended December 31, 2015 primarily due to
a $6.8 billion negative impact of foreign currency translation and net outflows of $5.3 billion, partially offset by market
appreciation and other of $7.0 billion. Threadneedle institutional AUM decreased $6.7 billion, or 7%, during the year
ended December 31, 2015 primarily due to a $4.6 billion negative impact of foreign currency translation and net outflows
of $6.9 billion, partially offset by market appreciation and other of $4.8 billion. Threadneedle institutional net outflows
during the year ended December 31, 2015 included outflows of $5.0 billion from legacy insurance assets and $3.4 billion
related to a client’s decision to exit its portfolio due to specific liquidity needs.
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