Voya 2013 Annual Report Download - page 30

companies. As of December 31, 2013, Pomona Capital managed assets totaling $7.5 billion. See “Item 7.
Management’s Discussion and Analysis of Financial Condition and Results of Operations—Investments—Sale
of Certain Alternative Investments.” In addition, Investment Management offers select alternative and hedge
funds leveraging our core debt and equity investment capabilities.
The following chart presents asset and net flow data as of December 31, 2013, broken out by Investment
Management’s five investment platforms as well as by major business segment:
AUM Net Flows
As of
December 31, 2013
Year Ended
December 31, 2013
$ in billions $ in millions
Investment Platform
Fixed Income ....................... $113.7 $ (100.1)
Equities ........................... 58.9 2,107.2
Senior Bank Loans ................... 18.8 5,803.8
Alternatives ........................ 7.9 945.5
Total .............................. $199.3 $ 8,756.4
MASS(1) ........................... $ 27.2 $ (464.2)
Client Segment
Retail ............................. $ 65.4 $(2,245.3)
Institutional ........................ 54.9 8,950.2
General Account .................... 79.0 N/A
Mutual Fund Manager Re-assignments(2) . N/A 2,051.5
Total .............................. $199.3 $ 8,756.4
ING U.S. affiliate sourced, excluding
CBVA(3) ......................... $ 31.2 $ 3,345.0
CBVA(3) ........................... $ 22.7 $(2,366.3)
(1) $23.3 billion of MASS AUM are included in the fixed income and equity platforms presented above. The
balance of MASS, $3.9 billion, is managed by third parties and we retain only a modest fee on these assets.
(2) Represents the re-assignment of mutual fund management contracts to ING Investment Management from
external managers. The AUM related to the re-assignments are included in the retail segment above.
(3) Assets sourced from ING U.S., including CBVA, are also included in the retail and institutional markets
segments above.
Markets and Distribution
We serve our institutional clients through a dedicated sales and service platform consisting of direct- and
consultant-focused sales professionals. We serve individual investors through an intermediary-focused
distribution platform, consisting of business development and wholesale forces which partner with banks, broker-
dealers and independent financial advisers, as well as our affiliate and third-party retirement platforms.
With the exception of Pomona Capital, the different products and strategies associated with our investment
platforms are distributed and serviced by these Retail and Institutional client-focused segments as follows:
• Retail segment: Open- and closed-end funds through affiliate and third-party distribution platforms,
including wirehouses, brokerage firms, and independent and regional broker-dealers. As of
December 31, 2013, total AUM from these channels was $65.4 billion.
• Institutional segment: Individual and pooled accounts, targeting defined benefit, defined contribution
recordkeeping and retirement plans, Taft Hartley and endowments and foundations. As of
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