08 | BUSINESS REVIEW| This is F&C


Our objective is simple: to create value by delivering first quartile performance in everything our clients expect from us.


Our clients


Our clients comprise a wide range of insurance companies, institutional, wholesale and retail investors, across multiple geographies and jurisdictions, for whom we manage a diverse spread of investments including fixed income, equities, property and alternative asset classes.


How we manage money


With over 250 investment professionals, F&C has one of the largest investment teams in Europe. Our scale gives us a competitive edge in research resources and access to the most senior management at companies.We believe individuals work best as part of small, focused teams. Our investment professionals are therefore organised into dedicated teams, focused on specific products or market segments.We provide them with a high


degree of autonomy over their investment process.We do this in order to foster a strong culture of enterprise and accountability for delivering performance. This approach – of being both large in terms of resource, but entrepreneurial in structure – is what we describe as a ‘multi-specialist’ fund management model.


Responsible investments


We seek to deliver strong investment performance through active management. However, as a shareholder representative, we seek to engage with the companies in which we invest, aiming to enhance and protect long-term shareholder value. Our approach is to have constructive dialogue with companies. We cast votes on shareholder resolutions globally, and disclose this to our clients on our website.


Assets Under Management by Client Category as at 31 December


Key risks (see page 13)


In addition to the “normal risks” facing the business relating to the market, interest rates and foreign currency, the Board has identified the following as the key risks facing the business:


• Investment management


• Effective strategy formulation and execution


• Loss of strategic partners • Outsourced activities • Euro currency • Loss of key employees • Regulatory compliance


Assets Under Management by Asset Class as at 31 December


2010 £105.8bn


2011 £100.1bn


2010 £105.8bn


2011 £100.1bn


2010 2011 £bn


£bn


1 Insurance Funds 2


1


2 Institutional Funds 33 Sub-Advisory


4 Investment Trusts 4


5 6


Open Ended Funds (UK Onshore) Open Ended Funds (Offshore)


59.5 54.4 29.3 30.1 3.0 5.9 3.5 4.6


1 Fixed Interest 2


1


2.7 5.6 3.5 3.8


2011 Key Awards LIPPER


FUND AWARDS 2011 AUSTRIA


F&C Global Convertible Bond


F&C Global Convertible Bond


2 Equities 33 Property


44 Other Alternative Investments 5


5 Money Market


2010 2011 £bn £bn


62.0 59.2 28.7 25.5 8.2 2.4 4.5


7.9 1.7 5.8


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