Asset Management Competitor Tracker, Q2 2009

Table of Contents

OVERVIEW

• Catalyst
• Summary
• Methodology

INTRODUCTION

• The Asset Management Competitor Tracker provides both one month and 12 month views of developments

KEY TRENDS AND DEVELOPMENTS IN Q2 2009

• Although the asset management industry remains depressed, positive signs begin to emerge
  • Q2 2009 registered 57 competitor developments
• Capital constraints and low profitability inhibit consolidation and force asset managers to bide their time
  • In June 2009, M&A levels were the second lowest for the year and there was only one organic growth development in Q2
• Q2 sees product innovation remain prominent and a return to customer targeting
  • Product innovation and exchange traded funds
• Market activity returns to the core economic regions of Europe and North America, while some firms are embracing the developing market opportunities

PRODUCT INNOVATION AND CUSTOMER TARGETING

• Aviva
  • Hibernian Aviva launches an array of funds for Irish customers - May 09
  • Aviva enhances its retirement products - May 09
  • Hibernian Aviva introduces fixed rate deposit fund for pension investors - June 09
• Bank of New York Mellon
  • Pershing launches start-up simulator tool and a guidebook for hedge fund consulting services - April 09
  • Mellon Asset Management introduces an emerging markets equity fund managed by Blackfriars Asset Management - May 09
  • BNY Mellon Pershing announces the addition of three fund companies to FundVest - May 09
  • BNY Mellon Pershing adds seven fund companies to Nexus Funds - May 09
• Barclays
  • Barclays introduces three year fixed rate savings bond - May 09
• BNP Paribas
  • Harewood Asset Management announces the launch of Harewood Euro Long-Dividends - May 09
  • Harewood Asset Management introduces Harewood Quant' Guru Europe Equity fund - June 09
• Citigroup
  • Citi announces the launch of hedge fund middle office services - May 2009
  • Citi launches Easypay and Growth - May 09
  • Citi announces the launch of fund governance portal - June 09
  • Citi partners with AEGON Subsidiary TKP Investments to launch its advanced pooling solution - June 09
• Credit Suisse
  • Credit Suisse launches a new global macro replication index - April 09
• Deutsche Bank
  • Deutsche Bank introduces Platinum IV enhanced US treasury fund - April 09
  • Deutsche Bank announces the launch of a three year USD bond in Taiwan - May 09
  • Deutsche Bank announces the issue of Pfandbrief bond - June 09
  • Deutsche Bank inaugurates UCITS III CROCI carbon funds - June 09
• Franklin Templeton
  • Franklin Templeton announces mutual international fund - May 09
• Goldman Sachs
  • Goldman Sachs Asset Management raises $5.5 billion from GS Vintage Fund V - April 09
  • Goldman Sachs Asset Management introduces credit strategies fund - June 09
• Henderson Global Investors
  • Henderson inaugurates Central London Office Fund II - May 09
• Intesa Sanpaolo
  • Intesa Sanpaolo announces two venture capital funds for business innovation and development - May 09
• Invesco
  • Invesco PowerShares announces modifications in ETF portfolio - May 09
• Morgan Stanley
  • Morgan Stanley Fund Services announces the introduction of Stratum - June 09
• Pictet & Cie
  • Pictet & Cie introduces PF (Lux)-agriculture fund - May 09

M&A, PARTNERSHIPS AND ORGANIC GROWTH

• Allianz
  • Allianz and ICBC announce the completion of share transfer - April 09
  • Allianz sets up an asset management joint venture company in India - April 09
• Bank of New York Mellon
  • AdvisorShares ETF Trust appoints BNY Mellon Asset Servicing to provide services - April 09
  • Christian Brothers selects BNY Mellon Asset Servicing to provide fund services - June 09
  • BNY Mellon enters into a new partnership with Sumitomo Mitsui Asset Management - May 09
• Barclays
  • Barclays announces the sale of iShares - April 09
• BlackRock
  • Barclays' board accepts BlackRock' s offer to acquire BGI - June 09
• Citigroup
  • Majad Al Futtaim Asset Management selects Citi to provide fund services - June 09
• Commerzbank
  • Dresdner Bank merged into Commerzbank - May 09
• Credit Suisse
  • Credit Suisse and Woori Financial Group end their partnership - April 09
• Fortis
  • Fortis holdings announce closure of transactions - May 09
• HSBC
  • HSBC to increase its stake in Investsmart - June 09
• JPMorgan Chase
  • JPMorgan China opens branch in Guangzhou- May 09
  • Arden to manage fund of funds portfolio for JP Morgan' s Investment Bank - June 09
• Julius Baer
  • Julius Baer to acquire Alpha SIM - May 09
  • GAM to acquire Augustus Asset Managers - April 09
• Old Mutual
  • Old Mutual not to acquire ABN AMRO TEDA Fund Management - May 09
• UBS
  • UBS disposes UBS Pactual for around $2.5 billion (CHF2.8 billion) - April 09
• State Street
  • Caxton Associates selects State Street to provide hedge fund administration - June 09
• Societe Generale
  • Societe Generale asset management completes the sale of SGAM UK - April 09
• Bibliography

APPENDIX

• Methodology
• Further reading
• Ask the analyst
• Datamonitor consulting
• Disclaimer

TABLES

• Table: The 49 companies covered by Datamonitor' s Asset Management Competitor Tracker

FIGURES

• Figure: Total developments remain roughly constant
• Figure: Competitor developments remain extremely low, but retain a more even split by type
• Figure: M&A, partnerships and organic growth split: M&A remains sluggish with almost non-existent organic growth
• Figure: Product innovation and customer targeting split: product innovation dominates, although some customer targeting was seen in Q2 2009
• Figure: The product innovation split reveals the rising importance of delivery: trading platforms and support services are on the rise
• Figure: Q2 market activity was focused within Asia, Europe and North America