Voya 2014 Annual Report Download - page 45

The following chart presents asset and net flow data as of December 31, 2014, broken out by Investment
Management’s five investment platforms as well as by major client segment:
AUM Net Flows
As of
December 31, 2014
Year Ended
December 31, 2014
$ in billions $ in millions
Investment Platform
Fixed Income ........................... $116.7 $ 2,751.4
Equities ............................... 62.1 (1,233.8)
Senior Bank Loans ...................... 19.3 927.5
Alternatives ............................ 8.1 570.7
Total ................................. $206.2 $ 3,015.8
MASS ................................ $ 30.2(1) $ 2,123.3(2)
Client Segment
Retail ................................. $ 72.5 $(5,020.7)
Institutional ............................ 56.1 449.4
General Account ........................ 77.6 N/A
Mutual Fund Manager Re-assignments(3) ..... N/A 7,587.2
Total ................................. $206.2 $ 3,015.8
Voya Financial affiliate sourced, excluding
CBVA(4) ............................. $ 33.0 $ 5,775.7
CBVA(4) ............................... 26.0 (3,896.3)
(1) $22.6 billion of MASS assets are included in the fixed income, equity and senior bank loan platform AUM
figures presented above. The balance of MASS assets, $7.6 billion, is not reported in AUM and is managed
by third parties and we earn only a modest fee on these assets.
(2) Represents all net flows related to MASS assets, including certain net flows not reported in the AUM net
flow figures presented above.
(3) Represents the re-assignment of mutual fund management contracts to Voya Investment Management from
external managers. The AUM related to the re-assignments are included in the retail segment above.
(4) Assets sourced from Voya Financial, 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 client 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, 2014, total AUM from these channels was $72.5 billion.
• Institutional client segment: Individual and pooled accounts, targeting defined benefit, defined
contribution recordkeeping and retirement plans, Taft Hartley and endowments and foundations. As of
December 31, 2014, Investment Management had approximately 265 institutional clients, representing
$56.1 billion of AUM primarily in separately managed accounts, collective investment trusts and
structured vehicles.
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