Pioneer AUM & Flows Ranking

Transcription

1 Pioneer AUM & Flows Ranking Morningstar data January 2017 Economic & Market Research

2 Agenda Pioneer overall ranking by region 1 Top/bottom selling companies o Worldwide 3 o Europe 6 o US 9 o Asia 12 Top/bottom selling categories o Worldwide 15 o Europe 17 o US 19 o Asia 21 Top selling active funds 1 and FoFs by region 23 Top selling Pioneer funds by region 27 Top selling passive funds by region 31 PIONEER LOGO APPEARS HERE page For internal use only. Page ii

3 Highlights January 2017 PIONEER LOGO APPEARS HERE THE MARKET January has been a good month for the mutual funds industry, with active products signing over $58bn inflows globally. All asset classes ended up positive, besides equity that redeemed $20bn worldwide (of which $23bn in the US mkt for US equity funds). Europe and Asia have been the main drivers of the active funds sales, as investors there committed 60bn and $29bn respectively. Fixed income products drove global active sales ($42bn), with bond preference being equally distributed between Europe, US and Asia. Strong money market flows were also observed in Europe ( 30bn) and Asia ($18bn), while in the US money market funds saw redemptions for $42bn. The first month of 2017 confirmed the strong appeal of passive investing, with investors committing with further $100bn inflows into the segment. Most of passive fund sales were recorded in the US ($77bn), but positive contributions came also from Europe ( 14bn) and Asia ($10bn) PIONEER Pioneer multi asset funds brought home $420mln in January worldwide, most interested in those solutions being investors in Europe ( 410mln). Thanks to these inflows, which are a confirmation of a trend already observed in 2016, the company ranked 12 th and 7 th respectively worldwide and in Europe in January in the active multiasset business. Good positioning of Pioneer also in the US for the US municipal bond fund segment, where the company ranked 10 th in terms of monthly net sales, thanks to $90bn inflows in the category. In spite of this strong result, the company ended the month with $430mln redemptions in the US, due to outflows in the taxable bond and US equity fund categories. Pioneer kept a stable asset base in January 2017, maintaining its 34 th positioning globally in terms of active funds AUM. The company confirmed being a strong player in the active fixed income segment, were it ranked 14 th globally and 6 th in Europe. In Europe Pioneer also ranked 13 th in the alternative business in terms of AUM. & CATEGORIES With $51bn inflows, Vanguard was again the top selling player In January 2017, considering both active and passive funds. In the active only business, Amundi headed the overall worldwide sales ranking thanks to its money market products ($25.7bn overall net sales, of which $23.2bn in liquid products). Strong ranking for Amundi also in Europe were it was the best-selling asset manager both including and excluding passive funds. For internal use only. Page iii

4 PIONEER RANKING Universe: ACTIVE FUNDS (ex Index, ETF, Feeder & FoF) AUM ranking NET FLOWS ranking Pioneer YTD FLOWS Market YTD FLOWS YTD Δ prev. month YTD YTD Δ prev. month $ mln $ mln ^ ,421 US ($) Europe ( ) 2 Worldwide ($) 1 Equity ,141 Bond ,091 Multiasset ,389 Money mkt ,459 Alternative ,797 mln mln ^ ,504 Equity ,752 Bond ,178 Multiasset ,284 Money mkt ,535 Alternative ,136 $ mln $ mln ^ ,999 US Equity ,062 Intern. Equity ,166 Taxable Bond ,223 Municipal Bond ,825 Multiasset ,331 Money mkt ,641 Alternative $ mln $ mln Asia (ex China) ($) 3 ^ ,108 Equity ,600 Bond ,403 Multiasset ,734 Money mkt ,408 Alternative _... _... _ Australia and global cross border funds included in global figures, but not China. Morningstar provides a ranking by brand, not by company, thus in the worldwide ranking Pioneer Pekao and Baroda Pioneer are excluded in Pioneer data. 2 In Europe Pioneer Pekao not included in Pioneer data. 3 Asia includes just local funds. ^ include also "other" category not shown here.

5 PIONEER RANKING Universe: FoF & Feeder funds AUM ranking NET FLOWS ranking Pioneer YTD FLOWS Market YTD FLOWS FoF & Feeder YTD Δ prev. month YTD YTD Δ prev. month $/ mln $/ mln Worldwide ($) ,542 Europe ( ) ,547 US ($) ,730 PIONEER RANKING Universe: MUTUAL FUNDS ex ETF^ AUM ranking NET FLOWS ranking Pioneer YTD FLOWS Market YTD FLOWS Active & index (ex ETF) YTD Δ prev. month YTD YTD Δ prev. month $/ mln $/ mln Worldwide $ ,007 Europe ,731 US $ ,387 Asia (ex China) $ ,009 PIONEER RANKING Universe: ACTIVE & PASSIVE FUNDS^ AUM ranking NET FLOWS ranking Pioneer YTD FLOWS Market YTD FLOWS Active & Passive YTD Δ prev. month YTD $/ mln $/ mln Worldwide $ ,865 Europe ,975 US $ ,951 Asia (ex China) $ ,954 *Morningstar provides a ranking by brand, not by company, thus in the worldwide ranking Pioneer Pekao and Baroda Pioneer are excluded. *In Europe Pioneer include also "other" category not shown here. ^ex Feeder and FoFs YTD Δ prev. month For internal use only Page 2

6 Worldwide Univ: ACTIVE FUNDS (ex Index, ETF)^ Top players by AUM Top sellers month Top sellers Ytd 1 Fidelity 1,732,225 1 Amundi 25,737 1 Amundi 25,737 2 American Funds 1,308,769 2 BNP Paribas 5,946 2 BBDTVM 8,666 3 Vanguard 1,088,061 3 Northern 5,633 3 BNP Paribas 5,946 4 JPMorgan 866,557 4 Vanguard 4,411 4 Northern 5,633 5 BlackRock 681,274 5 Dimensional 3,736 5 Vanguard 4,411 6 Franklin Templeton 515,416 6 PIMCO 3,584 6 Dimensional 3,736 7 T. Rowe Price 512,819 7 Bradesco 3,206 7 PIMCO 3,584 8 Goldman Sachs 427,427 8 Generali 2,596 8 Bradesco 3,206 9 PIMCO 407,510 9 AXA 2,284 9 Generali 2, Invesco 352, UBS Hana 2, AXA 2, Pioneer Investments 144,137 2,952 Pioneer Investments ,974 Pioneer Investments ,006 Federated -8,700 3,028 Federated -8,700 3,007 Goldman Sachs -10,393 3,029 Goldman Sachs -10,393 3,008 Fidelity -16,332 3,030 Fidelity -16,332 Total 24,354,664 Total 58,421 Total 58,421 Equity 1 Fidelity 856,718 1 Dimensional 2,673 1 Dimensional 2,673 2 American Funds 852,887 2 Robeco Robeco Vanguard 369,401 3 DNB DNB T. Rowe Price 356,287 4 Lazard Lazard Dimensional 240,809 5 Eastspring Investments Eastspring Investments JPMorgan 238,302 6 Parnassus Parnassus Franklin Templeton 177,191 7 RBC RBC Invesco 167,412 8 BNP Paribas BNP Paribas MFS 166,841 9 Natixis Natixis Dodge & Cox 127, Delaware Delaware Pioneer Investments 42,221 2,057 Pioneer Investments ,070 Pioneer Investments ,094 JPMorgan -1,406 2,107 JPMorgan -1,406 2,095 Mainstay Management -1,541 2,108 Mainstay Management -1,541 2,096 Fidelity -8,051 2,109 Fidelity -8,051 Total 9,155,164 Total -20,141 Total -20,141 Bond 1 PIMCO 358,953 1 PIMCO 3,945 1 PIMCO 3,945 2 Fidelity 222,126 2 Bradesco 2,887 2 Bradesco 2,887 3 Vanguard 220,016 3 BBDTVM 2,558 3 BBDTVM 2,558 4 JPMorgan 143,344 4 Lord Abbett 1,821 4 Lord Abbett 1,821 5 Franklin Templeton 141,395 5 Invesco 1,403 5 Invesco 1,403 6 BlackRock 124,233 6 Credit Suisse 1,349 6 Credit Suisse 1,349 7 American Funds 94,908 7 Siam Commercial Bank 1,206 7 Siam Commercial Bank 1,206 8 Metropolitan West 86,632 8 Itau 1,184 8 Itau 1,184 9 T. Rowe Price 84,267 9 Guggenheim Guggenheim Lord Abbett 72, Dimensional Dimensional Pioneer Investments 68,490 1,317 Pioneer Investments ,328 Pioneer Investments ,321 Lægernes Invest -1,002 1,332 Lægernes Invest -1,002 1,322 Danske Invest -1,014 1,333 Danske Invest -1,014 1,323 Franklin Templeton -1,261 1,334 Franklin Templeton -1,261 Total 5,514,993 Total 42,091 Total 42,091 For internal use only Page 3

7 Worldwide Univ: ACTIVE FUNDS (ex Index, ETF)^ Top players by AUM Top sellers month Top sellers Ytd Money mkt Multiasset 1 American Funds 318,324 1 Commonwealth Commonwealth Vanguard 149,132 2 Allianz Global Investors Allianz Global Investors Fidelity 138,209 3 JPMorgan JPMorgan Franklin Templeton 120,917 4 American Funds American Funds BlackRock 91,105 5 M&G M&G Eurizon Capital 66,677 6 Flossbach von Storch Flossbach von Storch CARE Super 66,529 7 Eurizon Capital Eurizon Capital AustralianSuper 65,848 8 Union Investment Union Investment REST 58,912 9 Capita Financial Capita Financial First Eagle 53, Legg Mason Legg Mason Pioneer Investments 20, Pioneer Investments Pioneer Investments 423 1,277 7IM ,285 7IM ,278 BlackRock ,286 BlackRock ,279 Aletti Gestielle ,287 Aletti Gestielle -889 Total 3,175,107 Total 10,389 Total 10,389 1 Fidelity 479,247 1 Amundi 23,213 1 Amundi 23,213 2 JPMorgan 406,706 2 Northern 5,472 2 Northern 5,472 3 BlackRock 301,952 3 BNP Paribas 4,964 3 BNP Paribas 4,964 4 Goldman Sachs 291,272 4 Generali 2,508 4 Generali 2,508 5 Vanguard 211,067 5 UBS Hana 2,058 5 UBS Hana 2,058 6 Federated 197,433 6 AXA 2,046 6 AXA 2,046 7 Amundi 178,183 7 Prudential 2,038 7 Prudential 2,038 8 Schwab 158,984 8 Vanguard 2,002 8 Vanguard 2,002 9 Dreyfus 148,544 9 AXIS 1,129 9 AXIS 1, Morgan Stanley 138, JPMorgan 1, JPMorgan 1, Pioneer Investments Pioneer Investments Pioneer Investments Fidelity -8, Fidelity -8, Federated -8, Federated -8, Goldman Sachs -11, Goldman Sachs -11,326 Total 4,064,472 Total 4,459 Total 4,459 Alternative 1 Standard Life 47,070 1 AdamCapital 1,120 1 AdamCapital 1,120 2 BBDTVM 42,240 2 AQR AQR AQR 28,243 3 Invesco Invesco BNY Mellon 23,428 4 Goldman Sachs Goldman Sachs Natixis 21,733 5 Old Mutual Old Mutual BlackRock 20,302 6 GMO GMO Invesco 18,983 7 Wellington Management Wellington Management JPMorgan 13,071 8 Schroders Schroders LGT 12,162 9 Natixis Natixis GMO 11, Garde Garde Pioneer Investments 7, Pioneer Investments Pioneer Investments John Hancock John Hancock Standard Life Standard Life Bradesco -2, Bradesco -2,577 Total 735,062 Total 2,797 Total 2,797 Australia and global cross border funds included in global figures, but not China. "Pioneer investments" excludes Pioneer Pekao and Baroda Pioneer. include also "other" category not shown here. ^ Feeder and FoFs also excluded. For internal use only Page 4

8 Worldwide Universe: FoF & Feeder funds Top players by AUM Top sellers month Top sellers Ytd 1 Vanguard 365,536 1 Vanguard 8,132 1 Vanguard 8,132 2 Fidelity 290,221 2 BBDTVM 6,621 2 BBDTVM 6,621 3 T. Rowe Price 166,870 3 American Funds 2,706 3 American Funds 2,706 4 Itau 129,031 4 Amundi 2,090 4 Amundi 2,090 5 Bradesco 95,014 5 T. Rowe Price 1,375 5 T. Rowe Price 1,375 6 BBDTVM 91,890 6 Itau 1,291 6 Itau 1,291 7 American Funds 88,811 7 State Street 1,170 7 State Street 1,170 8 Eastspring Investments 72,121 8 AdamCapital 1,142 8 AdamCapital 1,142 9 JPMorgan 69,173 9 Caixa Caixa Santander 69, BlackRock BlackRock Pioneer Investments 25,797 1,240 Pioneer Investments ,251 Pioneer Investments ,250 Wells Fargo -1,593 1,261 Wells Fargo -1,593 1,251 Fidelity -3,228 1,262 Fidelity -3,228 1,252 Eastspring Investments -4,836 1,263 Eastspring Investments -4,836 Total 3,855,343 Total 22,542 Total 22,542 Worldwide Univ: MUTUTAL FUNDS ex ETF^ Top players by AUM Top sellers month Top sellers Ytd 1 Vanguard 3,208,828 1 Vanguard 35,311 1 Vanguard 35,311 2 Fidelity 1,997,765 2 Amundi 25,784 2 Amundi 25,784 3 American Funds 1,308,769 3 BBDTVM 8,666 3 BBDTVM 8,666 4 JPMorgan 868,259 4 BNP Paribas 6,136 4 BNP Paribas 6,136 5 BlackRock 784,441 5 Northern 5,752 5 Northern 5,752 6 T. Rowe Price 544,837 6 Dimensional 3,868 6 Dimensional 3,868 7 Franklin Templeton 515,489 7 PIMCO 3,584 7 PIMCO 3,584 8 Goldman Sachs 427,427 8 Bradesco 3,315 8 Bradesco 3,315 9 PIMCO 407,510 9 Generali 2,596 9 Generali 2, Invesco 360, AXA 2, AXA 2, Pioneer Investments 145,868 2,977 Pioneer Investments ,999 Pioneer Investments ,025 Federated -8,724 3,047 Federated -8,724 3,026 Goldman Sachs -10,393 3,048 Goldman Sachs -10,393 3,027 Fidelity -13,610 3,049 Fidelity -13,610 Total 27,770,931 Total 97,007 Total 97,007 Worldwide Univ: ACTIVE & PASSIVE FUNDS (incl. ETF)^ Top players by AUM Top sellers month Top sellers Ytd 1 Vanguard 3,886,125 1 Vanguard 50,736 1 Vanguard 50,736 2 Fidelity 2,003,062 2 Amundi 26,487 2 Amundi 26,487 3 ishares 1,337,461 3 ishares 18,660 3 ishares 18,660 4 American Funds 1,308,769 4 BBDTVM 8,666 4 BBDTVM 8,666 5 JPMorgan 873,363 5 BNP Paribas 6,153 5 BNP Paribas 6,153 6 BlackRock 790,435 6 Northern 5,752 6 Northern 5,752 7 State Street 613,975 7 Nomura 4,378 7 Nomura 4,378 8 Franklin Templeton 567,382 8 Dimensional 3,868 8 Dimensional 3,868 9 T. Rowe Price 544,837 9 PIMCO 3,672 9 PIMCO 3, Goldman Sachs 430, Bradesco 3, Bradesco 3, Pioneer Investments 145,868 3,061 Pioneer Investments ,083 Pioneer Investments ,107 Federated -8,724 3,129 Federated -8,724 3,108 Goldman Sachs -10,260 3,130 Goldman Sachs -10,260 3,109 Fidelity -13,451 3,131 Fidelity -13,451 Total 31,422,460 Total 159,865 Total 159,865 Australia and global cross border funds included in global figures, but not China. "Pioneer investments" excludes Pioneer Pekao and Baroda Pioneer. include also "other" category not shown here. ^ Feeder and FoFs also excluded. For internal use only Page 5

9 Europe Univ: ACTIVE FUNDS (ex Index, ETF)^ Top players by AUM mln Top sellers month mln Top sellers Ytd mln 1 BlackRock 290,434 1 Amundi 23,812 1 Amundi 23,812 2 JPMorgan 289,069 2 BNP Paribas 5,386 2 BNP Paribas 5,386 3 Amundi 276,662 3 JPMorgan 4,069 3 JPMorgan 4,069 4 BNP Paribas 173,411 4 AXA 2,576 4 AXA 2,576 5 Deutsche Asset Management 161,112 5 Generali 2,403 5 Generali 2,403 6 Fidelity 146,534 6 PIMCO 2,083 6 PIMCO 2,083 7 UBS 143,584 7 Invesco 2,013 7 Invesco 2,013 8 Union Investment 140,549 8 Morgan Stanley 1,807 8 Morgan Stanley 1,807 9 Schroders 139,637 9 BlackRock 1,671 9 BlackRock 1, Nordea 139, Eurizon Capital 1, Eurizon Capital 1, Pioneer Investments 98, Pioneer Investments Pioneer Investments 103 1,347 Ignis ,362 Ignis ,348 Insight -2,341 1,363 Insight -2,341 1,349 Goldman Sachs -2,615 1,364 Goldman Sachs -2,615 Total 7,504,908 Total 60,504 Total 60,504 Equity 1 Fidelity 93,599 1 Robeco Robeco Schroders 81,170 2 DNB DNB Deutsche Asset Management 70,697 3 Eastspring Investments Eastspring Investments BlackRock 69,884 4 BlackRock BlackRock JPMorgan 65,429 5 BNP Paribas BNP Paribas Invesco 55,321 6 Amundi Amundi Swedbank 43,864 7 JPMorgan JPMorgan UBS 43,027 8 Nordea Nordea Nordea 41,632 9 Pictet Pictet Allianz Global Investors 39, Fideuram Fideuram Pioneer Investments 22, Pioneer Investments Pioneer Investments Henderson Henderson Allianz Global Investors Allianz Global Investors THEAM THEAM -492 Total 2,375,936 Total 2,752 Total 2,752 Bond 1 PIMCO 90,717 1 PIMCO 2,005 1 PIMCO 2,005 2 Nordea 55,291 2 Credit Suisse 1,206 2 Credit Suisse 1,206 3 BlackRock 54,843 3 Invesco 1,136 3 Invesco 1,136 4 Franklin Templeton 53,263 4 Carmignac Carmignac UBS 49,993 5 AXA AXA Pioneer Investments 48,167 6 UBP UBP AXA 44,751 7 Eurizon Capital Eurizon Capital Amundi 44,602 8 Jupiter Jupiter JPMorgan 42,183 9 GAM GAM Deutsche Asset Management 40, Barings Barings Pioneer Investments 48, Pioneer Investments Pioneer Investments Franklin Templeton Franklin Templeton Lægernes Invest Lægernes Invest Danske Invest Danske Invest -938 Total 2,078,575 Total 14,178 Total 14,178 For internal use only Page 6

10 Europe Univ: ACTIVE FUNDS (ex Index, ETF)^ Top players by AUM mln Top sellers month mln Top sellers Ytd mln Multiasset 1 Eurizon Capital 61,699 1 Allianz Global Investors Allianz Global Investors BlackRock 31,298 2 M&G M&G Carmignac 29,441 3 Flossbach von Storch Flossbach von Storch UBS 28,588 4 Eurizon Capital Eurizon Capital Nordea 27,905 5 Union Investment Union Investment Capfi Delen Asset Management 27,205 6 Capita Financial Capita Financial M&G 27,187 7 Pioneer Investments Pioneer Investments Allianz Global Investors 26,489 8 JPMorgan JPMorgan JPMorgan 25,119 9 BNP Paribas BNP Paribas KBC 22, Fidelity Fidelity Pioneer Investments 17,240 7 Pioneer Investments Pioneer Investments ETHENEA ETHENEA IM IM Aletti Gestielle Aletti Gestielle -823 Total 1,135,506 Total 7,284 Total 7,284 Money mkt 1 Amundi 164,878 1 Amundi 21,480 1 Amundi 21,480 2 JPMorgan 143,941 2 BNP Paribas 4,572 2 BNP Paribas 4,572 3 BlackRock 114,494 3 JPMorgan 3,209 3 JPMorgan 3,209 4 Goldman Sachs 91,580 4 Generali 2,321 4 Generali 2,321 5 BNP Paribas 77,880 5 AXA 1,955 5 AXA 1,955 6 Natixis 38,833 6 Morgan Stanley 1,897 6 Morgan Stanley 1,897 7 HSBC 37,133 7 Groupama Groupama Crédit Mutuel 34,310 8 Ecofi Ecofi Morgan Stanley 33,658 9 OFI OFI Aviva 32, Fidelity Fidelity Pioneer Investments Pioneer Investments Pioneer Investments Crédit Mutuel Crédit Mutuel Insight -2, Insight -2, Goldman Sachs -3, Goldman Sachs -3,399 Total 1,200,551 Total 30,535 Total 30,535 Alternative 1 Standard Life 43,556 1 Invesco Invesco BNY Mellon 21,143 2 Goldman Sachs Goldman Sachs Invesco 16,638 3 Old Mutual Old Mutual BlackRock 14,036 4 Natixis Natixis JPMorgan 10,369 5 AQR AQR Aviva 10,153 6 Wellington Management Wellington Management GAM 8,584 7 Schroders Schroders Old Mutual 8,568 8 Aviva Aviva Deutsche Asset Management 8,188 9 Deutsche Asset Management Deutsche Asset Management Henderson 8, BNY Mellon BNY Mellon Pioneer Investments 6, Pioneer Investments Pioneer Investments JPMorgan JPMorgan Man Investments Man Investments Standard Life Standard Life -821 Total 398,616 Total 3,136 Total 3,136 "Pioneer investments" excludes Pioneer Pekao. "" include also "other" category not shown here. ^ Feeder and FoFs also excluded. For internal use only Page 7

11 Europe Universe: FoF & Feeder funds Top players by AUM mln Top sellers month mln Top sellers Ytd mln 1 Amundi 46,368 1 Amundi 2,052 1 Amundi 2,052 2 BNP Paribas 27,399 2 Deutsche Asset Management Deutsche Asset Management Nordea 24,978 3 DNB DNB Pioneer Investments 23,375 4 Royal London Royal London Deutsche Asset Management 22,251 5 Vanguard Vanguard Credit Suisse 18,774 6 Pictet Pictet Deka 17,374 7 Legal & General Legal & General Mediolanum 15,849 8 Exane Exane Standard Life 15,229 9 AG2R La Mondiale AG2R La Mondiale BlackRock 14, Credit Suisse Credit Suisse Pioneer Investments 23, Pioneer Investments Pioneer Investments IPConcept IPConcept Pioneer Investments Pioneer Investments Brummer & Partners Brummer & Partners -245 Total 782,714 Total 6,547 Total 6,547 Europe Univ: MUTUTAL FUNDS ex ETF^ 1 BlackRock 374,881 1 Amundi 23,900 1 Amundi 23,900 2 JPMorgan 289,069 2 BNP Paribas 5,695 2 BNP Paribas 5,695 3 Amundi 281,421 3 JPMorgan 4,069 3 JPMorgan 4,069 4 UBS 216,662 4 AXA 2,576 4 AXA 2,576 5 BNP Paribas 177,953 5 Generali 2,403 5 Generali 2,403 6 Deutsche Asset Management 161,112 6 PIMCO 2,083 6 PIMCO 2,083 7 Fidelity 150,881 7 Invesco 2,013 7 Invesco 2,013 8 Union Investment 142,063 8 Morgan Stanley 1,807 8 Morgan Stanley 1,807 9 Nordea 141,001 9 BlackRock 1,716 9 BlackRock 1, Schroders 139, Credit Suisse 1, Credit Suisse 1, Pioneer Investments 99, Pioneer Investments Pioneer Investments 60 1,355 Delta Lloyd -1,006 1,370 Delta Lloyd -1,006 1,356 Insight -2,341 1,371 Insight -2,341 1,357 Goldman Sachs -2,615 1,372 Goldman Sachs -2,615 Total 8,074,899 Total 63,731 Total 63,731 Europe Univ: ACTIVE & PASSIVE FUNDS (incl. ETF)^ 1 BlackRock 374,881 1 Amundi 24,544 1 Amundi 24,544 2 Amundi 307,042 2 BNP Paribas 5,561 2 BNP Paribas 5,561 3 JPMorgan 289,069 3 JPMorgan 4,069 3 JPMorgan 4,069 4 ishares 256,045 4 ishares 3,746 4 ishares 3,746 5 UBS 247,677 5 AXA 2,576 5 AXA 2,576 6 BNP Paribas 178,522 6 Generali 2,403 6 Generali 2,403 7 Deutsche Asset Management 161,112 7 PIMCO 2,285 7 PIMCO 2,285 8 Fidelity 150,881 8 Vanguard 2,072 8 Vanguard 2,072 9 Union Investment 142,063 9 Invesco 2,019 9 Invesco 2, Nordea 141, Morgan Stanley 1, Morgan Stanley 1, Pioneer Investments 99, Pioneer Investments Pioneer Investments 60 1,367 Delta Lloyd -1,006 1,382 Delta Lloyd -1,006 1,368 Insight -2,341 1,383 Insight -2,341 1,369 Goldman Sachs -2,615 1,384 Goldman Sachs -2,615 Total 8,628,663 Total 74,975 Total 74,975 "Pioneer investments" excludes Pioneer Pekao. "" include also "other" category not shown here. ^ Feeder and FoFs also excluded. For internal use only Page 8

12 US Univ: ACTIVE FUNDS (ex Index, ETF)^ Top players by AUM Top sellers month Top sellers Ytd 1 Fidelity Investments 1,447,786 1 Northern Funds 5,633 1 Northern Funds 5,633 2 American Funds 1,308,769 2 Vanguard 4,153 2 Vanguard 4,153 3 Vanguard 1,069,533 3 UBS 2,677 3 UBS 2,677 4 JPMorgan 520,687 4 Prudential Investments 1,569 4 Prudential Investments 1,569 5 T. Rowe Price 498,859 5 OppenheimerFunds 1,271 5 OppenheimerFunds 1,271 6 BlackRock 443,921 6 American Funds 1,236 6 American Funds 1,236 7 Franklin Templeton Investments 399,388 7 Pimco 1,071 7 Pimco 1,071 8 Pimco 291,025 8 Guggenheim Investments Guggenheim Investments Goldman Sachs 271,101 9 Nuveen Nuveen Federated 251, Lord Abbett Lord Abbett Pioneer Investments 37, Pioneer Investments Pioneer Investments Goldman Sachs -7, Goldman Sachs -7, Federated -8, Federated -8, Fidelity Investments -17, Fidelity Investments -17,110 Total 12,468,745 Total -55,999 Total -55,999 Taxable bond International Equity US Equity 1 Fidelity Investments 594,390 1 Parnassus Parnassus American Funds 512,218 2 Edgewood Edgewood Vanguard 313,255 3 Dodge & Cox Dodge & Cox T. Rowe Price 286,316 4 PRIMECAP Odyssey Funds PRIMECAP Odyssey Funds JPMorgan 127,128 5 DoubleLine DoubleLine MFS 91,139 6 Oakmark Oakmark Invesco 81,787 7 Victory Victory Columbia 70,312 8 Glenmede Glenmede American Century Investments 69,956 9 Bridge Builder Bridge Builder Janus 68, Legg Mason Legg Mason Pioneer Investments 17, Pioneer Investments Pioneer Investments John Hancock -1, John Hancock -1, MainStay -1, MainStay -1, Fidelity Investments -6, Fidelity Investments -6,527 Total 4,015,027 Total -23,062 Total -23,062 1 American Funds 340,669 1 Lazard Lazard Fidelity Investments 101,052 2 Oakmark Oakmark OppenheimerFunds 73,718 3 Hartford Mutual Funds Hartford Mutual Funds Dodge & Cox 63,700 4 OppenheimerFunds OppenheimerFunds Franklin Templeton Investments 61,851 5 FMI Funds FMI Funds T. Rowe Price 60,750 6 Harding Loevner Harding Loevner MFS 52,167 7 First Eagle First Eagle Vanguard 40,768 8 Delaware Investments Delaware Investments Harbor 36,003 9 Artisan Artisan Oakmark 34, Nationwide Nationwide Pioneer Investments Pioneer Investments Pioneer Investments JPMorgan JPMorgan GMO GMO Fidelity Investments -1, Fidelity Investments -1,321 Total 1,491,180 Total -1,166 Total -1,166 1 Pimco 247,865 1 Lord Abbett 1,615 1 Lord Abbett 1,615 2 Vanguard 220,016 2 Pimco 1,526 2 Pimco 1,526 3 Fidelity Investments 164,557 3 Guggenheim Investments 1,018 3 Guggenheim Investments 1,018 4 American Funds 94,908 4 Baird Baird JPMorgan 91,605 5 Vanguard Vanguard Metropolitan West Funds 86,632 6 American Funds American Funds T. Rowe Price 79,580 7 Morgan Stanley Morgan Stanley Franklin Templeton Investments 76,015 8 T. Rowe Price T. Rowe Price BlackRock 73,477 9 BBH BBH Lord Abbett 71, Eaton Vance Eaton Vance Pioneer Investments 16, Pioneer Investments Pioneer Investments GMO GMO Franklin Templeton Investments Franklin Templeton Investments Legg Mason Legg Mason -962 Total 2,299,354 Total 9,223 Total 9,223 For internal use only Page 9

13 US Univ: ACTIVE FUNDS (ex Index, ETF)^ Top players by AUM Top sellers month Top sellers Ytd Municipal bond 1 Vanguard 134,635 1 Vanguard 2,269 1 Vanguard 2,269 2 Franklin Templeton Investments 67,248 2 Nuveen Nuveen Nuveen 39,312 3 MFS MFS Fidelity Investments 30,649 4 Goldman Sachs Goldman Sachs American Funds 24,417 5 MainStay MainStay OppenheimerFunds 22,773 6 Invesco Invesco Wells Fargo Funds 20,622 7 Fidelity Investments Fidelity Investments T. Rowe Price 19,896 8 Federated Federated AllianceBernstein 18,053 9 AllianceBernstein 97 9 AllianceBernstein Invesco 15, Pioneer Investments Pioneer Investments Pioneer Investments 1, Pioneer Investments Pioneer Investments Legg Mason Legg Mason Lord Abbett Lord Abbett Franklin Templeton Investments Franklin Templeton Investments -209 Total 616,489 Total 3,825 Total 3,825 Multiasset 1 American Funds 318,324 1 American Funds American Funds Vanguard 147,393 2 First Eagle First Eagle Franklin Templeton Investments 114,276 3 Hartford Mutual Funds Hartford Mutual Funds Fidelity Investments 87,937 4 Columbia Columbia BlackRock 58,430 5 Vanguard Vanguard First Eagle 53,018 6 Principal Funds Principal Funds T. Rowe Price 36,339 7 MFS 88 7 MFS 88 8 Invesco 21,023 8 SEI 77 8 SEI 77 9 FPA 16,761 9 Nuveen 77 9 Nuveen Jackson National 16, Chiron Investment Management Chiron Investment Management Pioneer Investments 1, Pioneer Investments Pioneer Investments Fidelity Investments Fidelity Investments Ivy Funds Ivy Funds BlackRock BlackRock -783 Total 1,187,684 Total -2,331 Total -2,331 Money mkt 1 Fidelity Investments 465,593 1 Northern Funds 5,472 1 Northern Funds 5,472 2 JPMorgan 250,797 2 UBS 2,782 2 UBS 2,782 3 BlackRock 242,945 3 Prudential Investments 2,050 3 Prudential Investments 2,050 4 Vanguard 211,128 4 Vanguard 1,867 4 Vanguard 1,867 5 Goldman Sachs 192,302 5 OppenheimerFunds OppenheimerFunds Federated 186,920 6 First American First American Schwab Funds 158,984 7 T. Rowe Price T. Rowe Price Dreyfus 148,544 8 Deutsche Asset Management Deutsche Asset Management Morgan Stanley 102,599 9 PNC Funds PNC Funds Wells Fargo Funds 97, Wilmington Funds Wilmington Funds Pioneer Investments Pioneer Investments Pioneer Investments Goldman Sachs -7, Goldman Sachs -7, Federated -9, Federated -9, Fidelity Investments -9, Fidelity Investments -9,413 Total 2,670,865 Total -41,641 Total -41,641 Alternative 1 AQR Funds 25,501 1 AQR Funds AQR Funds Natixis Funds 12,684 2 Catalyst Mutual Funds Catalyst Mutual Funds Pimco 9,308 3 Calamos Calamos John Hancock 8,403 4 Principal Funds 68 4 Principal Funds 68 5 Boston Partners 8,365 5 Highmore 51 5 Highmore 51 6 Catalyst Mutual Funds 5,383 6 Vanguard 36 6 Vanguard 36 7 BlackRock 5,039 7 Goldman Sachs 36 7 Goldman Sachs 36 8 Diamond Hill Funds 4,552 8 Litman Gregory Masters Funds 26 8 Litman Gregory Masters Funds 26 9 Blackstone 4,463 9 Aspen Partners 20 9 Aspen Partners Calamos 4, LJM Funds LJM Funds 19 - Pioneer Investments - - Pioneer Investments - - Pioneer Investments Pimco Pimco Equinox Funds Trust Equinox Funds Trust John Hancock John Hancock -362 Total 163,453 Total -580 Total -580 "" include also "other" category not shown here. ^ Feeder and FoFs also excluded. For internal use only Page 10

14 US Universe: FoF & Feeder funds Top players by AUM Top sellers month Top sellers Ytd 1 Vanguard 353,802 1 Vanguard 7,856 1 Vanguard 7,856 2 Fidelity Investments 270,740 2 American Funds 2,706 2 American Funds 2,706 3 T. Rowe Price 166,870 3 T. Rowe Price 1,375 3 T. Rowe Price 1,375 4 American Funds 88,811 4 State Street Global Advisors (Chicago) 1,184 4 State Street Global Advisors (Chicago) 1,184 5 JPMorgan 61,193 5 TIAA-CREF Asset Management TIAA-CREF Asset Management John Hancock 55,236 6 Dimensional Fund Advisors Dimensional Fund Advisors AXA Equitable 46,175 7 State Farm State Farm Jackson National 42,472 8 Swan Swan Principal Funds 40,241 9 Great-West Funds 92 9 Great-West Funds TIAA-CREF Asset Management 33, MainStay MainStay Pioneer Investments Pioneer Investments Pioneer Investments Principal Funds Principal Funds John Hancock -1, John Hancock -1, Fidelity Investments -3, Fidelity Investments -3,271 Total 1,511,225 Total 7,730 Total 7,730 US Univ: MUTUTAL FUNDS ex ETF^ 1 Vanguard 3,082,549 1 Vanguard 33,666 1 Vanguard 33,666 2 Fidelity Investments 1,708,605 2 Northern Funds 5,752 2 Northern Funds 5,752 3 American Funds 1,308,769 3 Dimensional Fund Advisors 3,560 3 Dimensional Fund Advisors 3,560 4 T. Rowe Price 530,877 4 UBS 2,677 4 UBS 2,677 5 JPMorgan 522,389 5 Prudential Investments 1,568 5 Prudential Investments 1,568 6 BlackRock 475,892 6 OppenheimerFunds 1,271 6 OppenheimerFunds 1,271 7 Franklin Templeton Investments 399,388 7 American Funds 1,236 7 American Funds 1,236 8 Dimensional Fund Advisors 326,233 8 Pimco 1,071 8 Pimco 1,071 9 Pimco 291,025 9 TIAA-CREF Asset Management TIAA-CREF Asset Management Goldman Sachs 271, Guggenheim Investments Guggenheim Investments Pioneer Investments 37, Pioneer Investments Pioneer Investments Goldman Sachs -7, Goldman Sachs -7, Federated -9, Federated -9, Fidelity Investments -14, Fidelity Investments -14,404 Total 15,460,865 Total -18,387 Total -18,387 US Univ: ACTIVE & PASSIVE FUNDS (incl. ETF)^ 1 Vanguard 3,720,475 1 Vanguard 47,852 1 Vanguard 47,852 2 Fidelity Investments 1,713,902 2 ishares 14,865 2 ishares 14,865 3 American Funds 1,308,769 3 Northern Funds 5,752 3 Northern Funds 5,752 4 ishares 1,006,777 4 Dimensional Fund Advisors 3,560 4 Dimensional Fund Advisors 3,560 5 T. Rowe Price 530,877 5 UBS 2,726 5 UBS 2,726 6 JPMorgan 527,494 6 PowerShares 2,441 6 PowerShares 2,441 7 SPDR State Street Global Advisors 511,764 7 Schwab ETFs 2,205 7 Schwab ETFs 2,205 8 BlackRock 475,892 8 Guggenheim Investments 2,027 8 Guggenheim Investments 2,027 9 Franklin Templeton Investments 399,938 9 Prudential Investments 1,568 9 Prudential Investments 1, Dimensional Fund Advisors 326, OppenheimerFunds 1, OppenheimerFunds 1, Pioneer Investments 37, Pioneer Investments Pioneer Investments Goldman Sachs -7, Goldman Sachs -7, Federated -9, Federated -9, Fidelity Investments -14, Fidelity Investments -14,245 Total 18,090,059 Total 21,951 Total 21,951 "" include also "other" category not shown here. ^ Feeder and FoFs also excluded. For internal use only Page 11

15 Asia (ex China) Univ: ACTIVE FUNDS (ex Index, ETF)^ Top players by AUM Top sellers month Top sellers Ytd 1 Daiwa 33,310 1 UBS Hana 2,039 1 UBS Hana 2,039 2 HDFC 30,793 2 Birla Sun Life 1,742 2 Birla Sun Life 1,742 3 ICICI Prudential 30,706 3 ICICI Prudential 1,716 3 ICICI Prudential 1,716 4 Fidelity 29,791 4 Siam Commercial Bank 1,433 4 Siam Commercial Bank 1,433 5 Mitsubishi UFJ 29,702 5 AXIS 1,328 5 AXIS 1,328 6 KB Asset Management 27,743 6 NH-CA 1,317 6 NH-CA 1,317 7 JPMorgan 26,384 7 HDFC 1,166 7 HDFC 1,166 8 Birla Sun Life 26,033 8 UTI 1,154 8 UTI 1,154 9 AM One 25,197 9 Hyundai 1,147 9 Hyundai 1, Reliance 24, Reliance Reliance Pioneer Investments 1, Pioneer Investments Pioneer Investments Capital Investment Trust Capital Investment Trust KB Asset Management KB Asset Management Nikko AM Nikko AM -530 Total 1,037,511 Total 29,108 Total 29,108 Bond Equity 1 Fidelity 20,551 1 AM One AM One Nikko AM 19,733 2 Birla Sun Life Birla Sun Life Nomura 15,418 3 Goldman Sachs Goldman Sachs Daiwa 14,757 4 SBI 88 4 SBI 88 5 JPMorgan 14,528 5 ICICI Prudential 67 5 ICICI Prudential 67 6 AM One 14,226 6 Fuh-Hwa 65 6 Fuh-Hwa 65 7 Mitsubishi UFJ 13,871 7 HDFC 65 7 HDFC 65 8 Public Mutual 11,754 8 Sumitomo 63 8 Sumitomo 63 9 HDFC 8,451 9 STB Asset Management 50 9 STB Asset Management Franklin Templeton 7, PineBridge PineBridge Pioneer Investments Pioneer Investments 4 51 Pioneer Investments Schroders ,035 Schroders Mirae Asset ,036 Mirae Asset Nikko AM ,037 Nikko AM -469 Total 332,988 Total -1,600 Total -1,600 1 KASIKORNBANK 16,364 1 Siam Commercial Bank 1,206 1 Siam Commercial Bank 1,206 2 Daiwa 16,063 2 ICICI Prudential ICICI Prudential Mitsubishi UFJ 14,444 3 KASIKORNBANK KASIKORNBANK Birla Sun Life 13,915 4 Krung Thai Bank Krung Thai Bank ICICI Prudential 12,076 5 Birla Sun Life Birla Sun Life Siam Commercial Bank 11,739 6 Franklin Templeton Franklin Templeton Reliance 11,177 7 Bank of Ayudhya Bank of Ayudhya HDFC 11,020 8 Pramerica Pramerica Fidelity 9,141 9 Kotak Kotak AM One 7, UTI UTI Pioneer Investments Pioneer Investments Pioneer Investments Hanwha Group Hanwha Group Daiwa Daiwa JPMorgan JPMorgan -249 Total 290,469 Total 8,403 Total 8,403 For internal use only Page 12

16 Asia (ex China) Univ: ACTIVE FUNDS (ex Index, ETF)^ Top players by AUM Top sellers month Top sellers Ytd Multiasset 1 Schroders 7,404 1 Legg Mason Legg Mason JPMorgan 5,229 2 JPMorgan JPMorgan Legg Mason 4,729 3 Schroders Schroders HDFC 4,675 4 ICICI Prudential ICICI Prudential ICICI Prudential 4,285 5 Siam Commercial Bank Siam Commercial Bank Tokio Marine Asset Management 3,223 6 HDFC HDFC AM One 2,882 7 Tokio Marine Asset Management Tokio Marine Asset Management UTI 2,020 8 Birla Sun Life 90 8 Birla Sun Life 90 9 Mirae Asset 1,788 9 SBI 90 9 SBI SBI 1, Amundi Amundi Pioneer Investments Pioneer Investments 3 30 Pioneer Investments KTB Asset Management KTB Asset Management JM Financial JM Financial AM One AM One -75 Total 75,426 Total 1,734 Total 1,734 Money mkt 1 UBS Hana 9,354 1 UBS Hana 2,058 1 UBS Hana 2,058 2 Kiwoom 7,509 2 AXIS 1,129 2 AXIS 1,129 3 Samsung 7,359 3 Birla Sun Life 1,025 3 Birla Sun Life 1,025 4 Shinhan BNP Paribas 7,211 4 Hyundai Hyundai ICICI Prudential 6,300 5 UTI UTI HDFC 6,019 6 ICICI Prudential ICICI Prudential Hyundai 5,530 7 Reliance Reliance Reliance 5,141 8 Kiwoom Kiwoom Birla Sun Life 5,034 9 Tata Tata UTI 5, GS Asset GS Asset Pioneer Investments Pioneer Investments Pioneer Investments DSP BlackRock DSP BlackRock Taishin Investment Trust Taishin Investment Trust Capital Investment Trust Capital Investment Trust -291 Total 195,478 Total 18,408 Total 18,408 Alternative 1 Nomura 1,070 1 ICICI Prudential 37 1 ICICI Prudential 37 2 ICICI Prudential 1,021 2 Nomura 29 2 Nomura 29 3 Daiwa 1,018 3 Mitsubishi UFJ 22 3 Mitsubishi UFJ 22 4 Kotak Reliance 19 4 Reliance 19 5 Mirae Asset AXIS 12 5 AXIS 12 6 STB Asset Management BNY Mellon 9 6 BNY Mellon 9 7 HDFC SBI 8 7 SBI 8 8 Reliance Rakuten 8 8 Rakuten 8 9 JM Financial Daiwa 7 9 Daiwa 7 10 Natixis Birla Sun Life 6 10 Birla Sun Life 6 _ Pioneer Investments - - Pioneer Investments - _ Pioneer Investments _ 56 Mirae Asset Mirae Asset Kotak Kotak NH-CA NH-CA -116 Total 11,446 Total -109 Total -109 "" include also "other" category not shown here. ^ Feeder and FoFs also excluded. Just local funds considered for Asia, China not included. For internal use only Page 13

17 Asia (ex China) Universe: FoF & Feeder funds Top players by AUM Top sellers month Top sellers Ytd 1 Eastspring Investments 72,121 1 Franklin Templeton Franklin Templeton Nomura 39,679 2 NAM NAM Daiwa 26,447 3 Deutsche Bank Deutsche Bank AM One 25,249 4 Daiwa 99 4 Daiwa 99 5 STB Asset Management 13,356 5 T&D Holdings 97 5 T&D Holdings 97 6 Mirae Asset 12,870 6 TMB Bank 78 6 TMB Bank 78 7 Mitsubishi UFJ 12,508 7 Capital Group 76 7 Capital Group 76 8 Daiwa SB Investments 11,118 8 JPMorgan 66 8 JPMorgan 66 9 Nikko AM 11,034 9 Siam Commercial Bank 58 9 Siam Commercial Bank Pictet 10, Eugene Eugene 48 Pioneer Investments - Pioneer Investments - Pioneer Investments Nomura Nomura AM One AM One Eastspring Investments -4, Eastspring Investments -4,836 Total 358,971 Total -5,545 Total -5,545 Asia (ex China) Univ: MUTUTAL FUNDS ex ETF^ 1 Nomura 43,101 1 UBS Hana 2,028 1 UBS Hana 2,028 2 Mitsubishi UFJ 42,637 2 Birla Sun Life 1,741 2 Birla Sun Life 1,741 3 Daiwa 41,015 3 ICICI Prudential 1,713 3 ICICI Prudential 1,713 4 AM One 35,170 4 Siam Commercial Bank 1,419 4 Siam Commercial Bank 1,419 5 HDFC 30,835 5 NH-CA 1,338 5 NH-CA 1,338 6 ICICI Prudential 30,748 6 AXIS 1,328 6 AXIS 1,328 7 Nikko AM 30,176 7 HDFC 1,164 7 HDFC 1,164 8 Fidelity 29,814 8 UTI 1,155 8 UTI 1,155 9 KB Asset Management 28,445 9 Hyundai 1,147 9 Hyundai 1, JPMorgan 26, Reliance Reliance Baroda Pioneer 1, Baroda Pioneer Baroda Pioneer KB Asset Management KB Asset Management Capital Investment Trust Capital Investment Trust Nikko AM Nikko AM -621 Total 1,119,004 Total 29,009 Total 29,009 Asia (ex China) Univ: ACTIVE & PASSIVE FUNDS (incl. ETF)^ 1 Nomura 129,858 1 Nomura 4,277 1 Nomura 4,277 2 Daiwa 77,840 2 UBS Hana 2,030 2 UBS Hana 2,030 3 Nikko AM 66,728 3 Birla Sun Life 1,741 3 Birla Sun Life 1,741 4 Mitsubishi UFJ 58,754 4 ICICI Prudential 1,718 4 ICICI Prudential 1,718 5 AM One 39,484 5 Reliance 1,711 5 Reliance 1,711 6 HDFC 30,951 6 Daiwa 1,498 6 Daiwa 1,498 7 ICICI Prudential 30,906 7 Siam Commercial Bank 1,419 7 Siam Commercial Bank 1,419 8 KB Asset Management 29,892 8 NH-CA 1,338 8 NH-CA 1,338 9 Fidelity 29,814 9 AXIS 1,328 9 AXIS 1, Samsung 29, Mitsubishi UFJ 1, Mitsubishi UFJ 1, Baroda Pioneer 1, Baroda Pioneer Baroda Pioneer Capital Investment Trust Capital Investment Trust Samsung Samsung KB Asset Management KB Asset Management -625 Total 1,382,626 Total 38,954 Total 38,954 "" include also "other" category not shown here. ^ Feeder and FoFs also excluded. Just local funds considered for Asia, China not included. For internal use only Page 14

18 Rank Worldwide Category TOP/BOTTOM SELLING ACTIVE CATEGORIES Universe: ACTIVE FUNDS (Ex Index, ETF, Feeder & FoF) MARKET PIONEER Morningstar Flows (mln $) AUM (mln $) Flows (mln $) AUM (mln $) YTD previous yr YTD previous yr Jan'16 Jan'16 Bottom 20 Top 20 1 Euro Money Market 29,321 23, , Asia Money Market 18,162 13, ,667 3 Other Fixed Income 14, , ,424 4 Miscellaneous 14,599 2, , Global Fixed Income 8,398-2, , ,868 6 High Yield Fixed Income 5,831-9, , ,777 7 India Fixed Income 4,543 1,995 91,868 8 Moderate Allocation 4,418-2,567 1,018, ,423 9 US Fixed Income 4,310-2,016 1,758, , US Municipal Fixed Income 3,887 4, , , Emerging Markets Fixed Income 3,550-5, , , Cautious Allocation 3,293-4, , , Global Equity Large Cap 2,695 5,582 1,488, , Other Alternative 2, , Inflation Linked 2,190-1, , Flexible Allocation 2, , , Other Europe Equity 1, , Aggressive Allocation 1,407-1, , , Australia Money Market 1, , Technology Sector Equity , Last 20th Japan Equity , , Last 19th Allocation , , ,669 Last 18th Global Equity , Last 17th Other Europe Money Market ,410 67, Last 16th Mexico Fixed Income ,273 # Last 15th UK Equity Large Cap ,833 # Last 14th Korea Equity ,916 # Last 13th Long/Short Equity , , # Last 12th Asia ex-japan Equity -1,059-2, , # Last 11th Real Estate Sector Equity -1, , # Last 10th Euro Fixed Income -1,558-2, , ,014 # Last 9th US Equity Large Cap Value -1,608-2, , ,515 # Last 8th South American Money Market -2,278-2,491 14,096 # Last 7th Europe Equity Large Cap -2, , ,844 # Last 6th Healthcare Sector Equity -2,447-2, ,261 # Last 5th US Equity Mid Cap -2,898-5, , ,815 # Last 4th US Equity Large Cap Blend -3,989-4, , ,021 # Last 3rd Sterling Money Market -4,128-2, ,408 # Last 2nd US Equity Large Cap Growth -11,109-4,348 1,203, ,988 # Last US Money Market -37,135-30,010 2,883, Total 58,421-30,983 24,354, ,136 For internal use only Page 15

19 Rank Worldwide Category TOP/BOTTOM SELLING PASSIVE CATEGORIES Universe: PASSIVE FUNDS (Index & ETF ONLY) Morningstar MARKET Flows (mln $) AUM (mln $) YTD previous yr Jan'16 Bottom 20 Top 20 1 US Equity Large Cap Blend 18,174 13,956 2,065,670 2 US Fixed Income 16,619 9, ,454 3 Global Equity Large Cap 11,988 10, ,080 4 Japan Equity 9,430 4, ,942 5 US Equity Small Cap 6,599-2, ,581 6 US Equity Mid Cap 5,621-2, ,255 7 Global Fixed Income 4, ,420 8 US Equity Large Cap Value 3,716-2, ,065 9 Emerging Markets Equity 2,972-2, , Real Estate Sector Equity 1, , Europe Equity Large Cap 1,850 2, , Emerging Markets Fixed Income 1, , Financials Sector Equity 1,605-2,162 57, Inflation Linked 1, , Other Europe Equity 1, , High Yield Fixed Income 1, , Technology Sector Equity 1,347-2,749 50, Other Equity 1, , India Equity 1, , Natural Resources Sector Equity 1, ,813 Last 20th Euro Money Market Last 19th Global Equity ,151 Last 18th Taiwan Equity ,949 Last 17th Asia Equity ,761 Last 16th Capital Protected ,091 # Last 15th Thailand Equity ,230 # Last 14th Australia & New Zealand Equity ,465 # Last 13th Multialternative # Last 12th Commodities Energy -65 1,328 7,651 # Last 11th Currency ,169 # Last 10th Israel Fixed Income ,790 # Last 9th Asia Money Market ,183 # Last 8th Mexico Equity ,263 # Last 7th Australia Equity ,332 # Last 6th Asia Pacific Fixed Income ,906 # Last 5th Korea Equity ,224 # Last 4th Utilities Sector Equity ,030 14,094 # Last 3rd Trading Tools ,243 55,731 # Last 2nd Greater China Equity -1, ,098 # Last US Equity Large Cap Growth -1,604-2, ,551 Total 100,691 69,662 6,970,836 For internal use only Page 16

20 Rank Europe Category TOP/BOTTOM SELLING ACTIVE CATEGORIES Universe: ACTIVE FUNDS (Ex Index, ETF, Feeder & FoF) MARKET PIONEER Morningstar Flows (mln ) AUM (mln ) Flows (mln ) AUM (mln ) YTD previous yr YTD previous yr Jan'16 Jan'16 Top 20 1 Euro Money Market 27,125 21, , US Money Market 8,107-21, ,856 3 Other Fixed Income 4, , ,768 4 Global Fixed Income 3, , ,680 5 High Yield Fixed Income 3,473-6, , ,476 6 Global Equity Large Cap 3,392-1, , ,244 7 Moderate Allocation 3,223-1, , ,171 8 Emerging Markets Fixed Income 3,080-3, , ,394 9 Cautious Allocation 2,107-2, , , Multialternative 1,834 2, , , Flexible Allocation 1, , Miscellaneous 1, , Other Europe Equity 1, , Other Alternative 1, , Europe Equity Mid/Small Cap , Inflation Linked , Technology Sector Equity , Aggressive Allocation , , Property-Direct 491 1, , Capital Protected , ,712 Bottom 20 Last 20th Utilities Sector Equity ,220 Last 19th Consumer Goods & Services Sector Equ ,833 Last 18th Asia Equity , Last 17th Allocation , ,171 Last 16th US Equity Large Cap Blend , ,525 # Last 15th Greater China Equity ,111 38, # Last 14th Real Estate Sector Equity , # Last 13th Convertibles ,047 62, # Last 12th UK Equity Mid/Small Cap ,799 # Last 11th Target Date ,877 # Last 10th Healthcare Sector Equity ,154 # Last 9th US Equity Large Cap Growth , ,717 # Last 8th Long/Short Equity ,868 61, # Last 7th Asia ex-japan Equity , , # Last 6th Emerging Markets Equity , # Last 5th UK Equity Large Cap ,064 # Last 4th Other Europe Money Market ,412 58, # Last 3rd Euro Fixed Income -1,386-2, , ,072 # Last 2nd Europe Equity Large Cap -1, , ,183 # Last Sterling Money Market -3,823-2, ,797 Total 60,504-47,138 7,504, ,245 For internal use only Page 17

21 Rank Europe Category TOP/BOTTOM SELLING PASSIVE CATEGORIES Universe: PASSIVE FUNDS (Index & ETF ONLY) Morningstar MARKET Flows (mln ) AUM (mln ) YTD previous yr Jan'16 Top 20 1 US Equity Large Cap Blend 2, ,569 2 Europe Equity Large Cap 2,050 2, ,137 3 Other Europe Equity 1, ,350 4 Emerging Markets Fixed Income 1, ,187 5 Commodities Precious Metals 1, ,708 6 High Yield Fixed Income ,195 7 Global Fixed Income ,720 8 Global Equity Large Cap ,291 9 Euro Fixed Income , Commodities Broad Basket , Other Fixed Income , Financials Sector Equity , US Fixed Income , Trading Tools , US Equity Large Cap Value , Other Europe Money Market , Inflation Linked , Market Neutral Other Sector Equity , Other Europe Fixed Income ,695 Bottom 20 Last 20th Korea Equity Last 19th Thailand Equity Last 18th Greater China Equity ,635 Last 17th Taiwan Equity Last 16th Euro Money Market # Last 15th Consumer Goods & Services Sector Equ ,024 # Last 14th Precious Metals Sector Equity ,026 # Last 13th Cautious Allocation # Last 12th Africa Equity # Last 11th India Equity ,656 # Last 10th Natural Resources Sector Equity # Last 9th Asia Equity ,693 # Last 8th Healthcare Sector Equity ,410 # Last 7th Capital Protected ,010 # Last 6th Multialternative # Last 5th Australia & New Zealand Equity ,323 # Last 4th Canadian Equity Large Cap ,383 # Last 3rd Japan Equity ,079 # Last 2nd Miscellaneous ,201 # Last Emerging Markets Equity ,481 Total 14,223 7,248 1,118,364 For internal use only Page 18

22 Rank US Category TOP/BOTTOM SELLING ACTIVE CATEGORIES Universe: ACTIVE FUNDS (Ex Index, ETF, Feeder & FoF) MARKET PIONEER Morningstar Flows (mln $) AUM (mln $) Flows (mln $) AUM (mln $) YTD previous yr YTD previous yr Jan'16 Jan'16 Top 20 1 US Fund Prime Money Market 10,820-2, , US Fund Bank Loan 3,679-2, , US Fund Ultrashort Bond 2, , ,980 4 US Fund High Yield Muni 1,610 1,192 83, US Fund Nontraditional Bond 1,462-2, , US Fund Inflation-Protected Bond 1, ,421 7 US Fund High Yield Bond 974-3, , ,698 8 US Fund Muni National Interm 899 2, ,958 9 US Fund Multisector Bond 847-1, , , US Fund Diversified Emerging Mkts , US Fund Muni National Short , US Fund Corporate Bond , US Fund Long Government , US Fund Energy Limited Partnership , US Fund Muni National Long , , US Fund Financial , US Fund Foreign Small/Mid Blend , US Fund Small Blend 372-1, , US Fund Muni California Intermediate , US Fund Emerging Markets Bond 290-1,142 49,476 Bottom 20 Last 20th US Fund Commodities Broad Basket ,701 Last 19th US Fund Long-Short Equity ,741 Last 18th US Fund Allocation--85%+ Equity ,980 Last 17th US Fund Short-Term Bond , , Last 16th US Fund Allocation--50% to 70% Equity , , # Last 15th US Fund Foreign Large Value ,955 # Last 14th US Fund Intermediate-Term Bond , , ,234 # Last 13th US Fund Short Government ,891 # Last 12th US Fund Global Real Estate ,930 # Last 11th US Fund Small Growth -1,030-1, ,440 # Last 10th US Fund Mid-Cap Value -1,193-1, , ,009 # Last 9th US Fund Intermediate Government -1, ,526 # Last 8th US Fund World Stock -1,238-1, , # Last 7th US Fund World Allocation -1,690-3, ,099 # Last 6th US Fund Mid-Cap Growth -1,847-2, , ,307 # Last 5th US Fund Health -2,045-1,611 98,964 # Last 4th US Fund Large Value -2,139-1, , ,593 # Last 3rd US Fund Large Blend -4,795-3, , ,293 # Last 2nd US Fund Large Growth -10,572-4,228 1,160, ,052 # Last US Fund Money Market - Taxable -52,721-10,258 2,055,216 Total -55,999-42,366 12,468, ,964 For internal use only Page 19

23 Rank US Category 1 TOP/BOTTOM SELLING PASSIVE CATEGORIES Universe: PASSIVE FUNDS (Index & ETF ONLY) Morningstar MARKET Flows (mln $) AUM (mln $) YTD previous yr Jan'16 Top 20 1 US Fund Large Blend 16,155 13,434 1,919,161 2 US Fund Foreign Large Blend 10,248 9, ,271 3 US Fund Intermediate-Term Bond 7,175-1, ,990 4 US Fund Mid-Cap Blend 4,887-1, ,457 5 US Fund World Bond 4, ,621 6 US Fund Diversified Emerging Mkts 3,833-1, ,187 7 US Fund Small Blend 3, ,123 8 US Fund Large Value 3,706-2, ,912 9 US Fund Corporate Bond 3, , US Fund Small Value 2, , US Fund Short-Term Bond 1, , US Fund Foreign Large Value 1, , US Fund Inflation-Protected Bond 1, , US Fund Technology 1,335-2,764 48, US Fund Real Estate 1, , US Fund Miscellaneous Region 1, , US Fund Financial 1,135-1,909 46, US Fund Intermediate Government 1, , US Fund Japan Stock 1, , US Fund Natural Resources 1, ,867 Bottom 20 Last 20th US Fund Infrastructure ,270 Last 19th US Fund Muni National Interm ,335 Last 18th US Fund Convertibles ,204 Last 17th US Fund Target-Date ,981 Last 16th US Fund Target-Date ,712 # Last 15th US Fund Multicurrency ,103 # Last 14th US Fund Commodities Precious Metals -79 1,760 47,661 # Last 13th US Fund Trading--Inverse Commodities # Last 12th US Fund Target-Date # Last 11th US Fund Commodities Energy ,242 # Last 10th US Fund Target-Date ,383 # Last 9th US Fund Target-Date ,627 # Last 8th US Fund Consumer Defensive ,245 # Last 7th US Fund Target-Date ,190 # Last 6th US Fund Long Government ,507 19,206 # Last 5th US Fund China Region ,912 # Last 4th US Fund Europe Stock ,490 # Last 3rd US Fund Utilities ,012 13,503 # Last 2nd US Fund Trading--Leveraged Equity -1, ,275 # Last US Fund Large Growth -1,680-2, ,040 Total 76,990 18,844 5,590,941 For internal use only Page 20

24 Rank Asia (ex China) Universe: ACTIVE FUNDS (Ex Category TOP/BOTTOM SELLING ACTIVE CATEGORIES Universe: ACTIVE FUNDS (EX Index, ETF, Feeder & FoF) MARKET PIONEER, Morningstar Flows (mln $) AUM (mln $) Flows (mln $) AUM (mln $) YTD previous yr YTD previous yr Jan'16 Jan'16 Top 20 1 Asia Money Market 18,175 13, , India Fixed Income 4,543 1,995 91, Global Fixed Income 3, ,895 4 Miscellaneous 2,268 1, Moderate Allocation , High Yield Fixed Income ,552 7 India Equity , Aggressive Allocation ,004 9 Other Fixed Income , Global Equity , Malaysia Fixed Income , Allocation , US Equity Large Cap Blend , Thailand Money Market , Other Europe Money Market , Taiwan Equity , Islamic Equity , Flexible Allocation , Malaysia Equity , Australia Money Market Bottom 20 Last 20th Multialternative ,263 Last 19th Emerging Markets Fixed Income ,868 Last 18th Other Equity ,056 Last 17th Cautious Allocation , Last 16th Asia Equity ,218 # Last 15th Europe Equity Large Cap ,631 # Last 14th Other Asia Equity ,491 # Last 13th Global Equity Large Cap ,255 # Last 12th US Fixed Income ,520 # Last 11th Australia Fixed Income ,817 # Last 10th Consumer Goods & Services Sec ,046 # Last 9th Japan Money Market # Last 8th Greater China Equity ,860 # Last 7th Trading Tools # Last 6th Thailand Fixed Income ,050 35,944 # Last 5th Thailand Equity ,991 # Last 4th Real Estate Sector Equity ,368 66,356 # Last 3rd Asia Pacific Fixed Income ,690 # Last 2nd Japan Equity ,112 45,503 # Last Korea Equity ,962 Total 29,108 45,343 1,037, ,421 For internal use only Page 21

25 Rank Asia (ex China) Category TOP/BOTTOM SELLING PASSIVE CATEGORIES Universe: PASSIVE FUNDS (Index & ETF ONLY) Morningstar MARKET Flows (mln $) AUM (mln $) YTD previous yr Jan'16 Top 20 1 Japan Equity 8,436 5, ,264 2 India Equity 1, ,142 3 Other Alternative 731 2,094 7,800 4 US Fixed Income Miscellaneous ,747 6 Real Estate Sector Equity ,473 7 Japan Fixed Income ,899 8 Asia ex-japan Equity Asia Fixed Income , Global Fixed Income , Cautious Allocation , Healthcare Sector Equity Global Equity , Moderate Allocation , Singapore Equity Other Asia Equity Flexible Allocation , Other Sector Equity Commodities Precious Metals Aggressive Allocation ,355 Bottom 20 Last 20th Euro Fixed Income Last 19th Global Equity Large Cap Last 18th Target Date Last 17th US Equity Large Cap Blend ,318 Last 16th Consumer Goods & Services Sec # Last 15th Commodities Broad Basket ,108 # Last 14th Multialternative # Last 13th Other Fixed Income # Last 12th Brazil Equity # Last 11th Financials Sector Equity # Last 10th Islamic Equity # Last 9th Technology Sector Equity # Last 8th Europe Equity Large Cap # Last 7th Taiwan Equity ,819 # Last 6th Thailand Equity ,178 # Last 5th Asia Money Market ,183 # Last 4th Asia Pacific Fixed Income ,906 # Last 3rd Korea Equity ,408 # Last 2nd Trading Tools ,493 6,294 # Last Greater China Equity ,250 Total 9,848 21, ,107 For internal use only Page 22

26 Worldwide TOP SELLING ACTIVE FUNDS Universe: ACTIVE FUNDS (Ex Index, ETF, Feeder & FoF) Fund name Company Flows AUM MS rating YTD () () (AUM weighted) 1 Amundi Cash Corporate Amundi 8,411 54,748 - FoF Alternative Money mkt Multiasset Bond Equity 2 JPM US Dollar Liquidity JPMorgan 7,061 80,532-3 BFT Aureus Amundi 4,764 17,307-4 Northern Instl Treasury Portfolio Northern 3,329 37,120-5 Vanguard Federal Money Market Fund Vanguard 3,214 69,500-1 Lazard Emerging Markets Equity Portfolio Lazard , DNB Norge (IV) DNB 647 1, BGF European Fund BlackRock 624 3, ClearBridge Large Cap Growth Fund Legg Mason 592 5, Oakmark International Fund Natixis , BRAM Performance FI RF Ref DI Bradesco 2,168 25, PIMCO Income Fund PIMCO 1,631 72, BB Extramercado Fat FI RF Exc BBDTVM 1,475 12, UBS (Lux) BS USDInvmtGrdCorps$ UBS 1,452 1,452-5 PIMCO GIS Income Fund PIMCO 1,311 23, American Funds American Balanced Fund American Funds , Col FS FirstChoice P Sup - FC Moderate Commonwealth 699 2, Allianz Income and Growth Allianz Global Investors , M&G Optimal Income Fund M&G , LM Australia High Dividend Eq Fd D1M Legg Mason 479 3, Amundi Cash Corporate Amundi 8,411 54,748-2 JPM US Dollar Liquidity JPMorgan 7,061 80,532-3 BFT Aureus Amundi 4,764 17,307-4 Northern Instl Treasury Portfolio Northern 3,329 37,120-5 Vanguard Federal Money Market Fund Vanguard 3,214 69,500-1 Adam Macro Master FIM AdamCapital 1,095 2,909-2 AQR Managed Futures Strategy Fund AQR , Solo Absolute Bonds and Currency Fund Natixis 421 1,195-4 IP Global Targeted Returns Invesco ,934-5 Goldman Sachs Strategic Abs Ret Bd I Pt Goldman Sachs 399 1,637-1 BB Supremo Setor Público FIC FI RF CP BBDTVM 3,176 12,858-2 Amundi Tréso Diversifiée Amundi 1,623 1,623-3 Fonds AV Echus FIA - C Amundi 1,614 1,614-4 Vanguard Instl Trgt Retire 2025 Fd Vanguard 1,187 16,311-5 Vanguard Instl Trgt Retire 2030 Fd Vanguard 1,023 13,989 - For internal use only Page 23

27 Europe TOP SELLING ACTIVE FUNDS Universe: ACTIVE FUNDS (Ex Index, ETF, Feeder & FoF) Fund name Company Flows AUM MS rating YTD (mln ) (mln ) (AUM weighted) 1 Amundi Cash Corporate Amundi 7,783 50,660-2 JPM US Dollar Liquidity JPMorgan 6,534 74,519-3 BFT Aureus Amundi 4,408 16,015-4 Amundi Cash Institutions SRI Amundi 2,690 22,039-5 BlackRock ICS USD Liquidity BlackRock 2,518 37,451-1 DNB Norge (IV) DNB 599 1,532 3 Equity 2 BGF European Fund BlackRock 577 3, Eastspring Inv Japan Dynamic Fund Eastspring Investments 362 2, Pictet - Robotics Pictet 357 2,195-5 KBC Equity Fd Strategic Satellites KBC AB FCP I Global High Yield Portfolio AB (AllianceBernstein) ,012 3 FoF Alternative Money mkt Multiasset Bond 2 AEAM Dutch Mortgage AEGON 164 9,402-3 AXA IM FIIS Europe Short Duration Hi Yld AXA 151 3, AEAM Core Eurozone Government Bond AEGON AB SICAV I Short Duration High Yield AB (AllianceBernstein) 114 1, IM AAP Balanced (Dublin) Capita Financial IM AAP Mody Advtrs (Dublin) Capita Financial IM AAP Mody Cau (Dublin) Capita Financial AZ Fd1 Bd Trgt 2020 EO Azimut Q-SPECIAL INCOME Hansainvest Amundi Cash Corporate Amundi 7,783 50,660-2 JPM US Dollar Liquidity JPMorgan 6,534 74,519-3 BFT Aureus Amundi 4,408 16,015-4 Amundi Cash Institutions SRI Amundi 2,690 22,039-5 BlackRock ICS USD Liquidity BlackRock 2,518 37,451-1 AQR Diversified Risk Premia AQR AQR Mgd Fture UCITS Fd AQR AQR Systematic Total Return AQR Absolute Return Bond Strategies Standard Life 106 1,553-5 Aviva Investors Mlt-Strat Trgt Ret Fd Aviva 90 3,753-1 Amundi Tréso Diversifiée Amundi 1,502 1,502-2 Fonds AV Echus FIA - C Amundi 1,493 1,493-3 Royal London Cash Plus Fund Royal London 236 4,392-4 Ecureuil Relais PEA 2 Natixis DWS Vorsorge Premium Deutsche Asset Managem 202 1,094 4 For internal use only Page 24

28 US TOP SELLING ACTIVE FUNDS Universe: ACTIVE FUNDS (Ex Index, ETF, Feeder & FoF) Fund name Company Flows AUM MS rating YTD () () (AUM weighted) 1 Northern Instl Treasury Portfolio Northern Funds 3,329 37,120-2 Vanguard Federal Money Market Fund Vanguard 3,214 69,500-3 JPMorgan Prime Money Mkt Fund JPMorgan 2,895 27,373-4 JPMorgan US Treasury Plus MMkt Fund JPMorgan 2,407 24,788-5 BlackRock Liquidity Funds TempFund BlackRock 2,297 10,812-1 Lazard Emerging Markets Equity Portfolio Lazard ,057 4 FoF Alternative Money mkt Multiasset Bond Equity 2 ClearBridge Large Cap Growth Fund Legg Mason 592 5, Oakmark International Fund Oakmark , Invesco Diversified Dividend Fund Invesco , Janus Enterprise Fd Janus , PIMCO Income Fund Pimco 1,631 72, Vanguard Intermediate-Term Tax-Exempt Vanguard , Lord Abbett Floating Rate Fund Lord Abbett , Vanguard Limited Term Tax Exempt Fund Vanguard , Vanguard High Yield Corporate Fund Vanguard , American Funds American Balanced Fund American Funds , Principal Diversified Real Asset Fund Principal Funds 270 4, Hartford Balanced Income Fund Hartford Mutual Funds 230 9, First Eagle Global Fund First Eagle , Vanguard Wellesley Income Fund Vanguard , Northern Instl Treasury Portfolio Northern Funds 3,329 37,120-2 Vanguard Federal Money Market Fund Vanguard 3,214 69,500-3 JPMorgan Prime Money Mkt Fund JPMorgan 2,895 27,373-4 JPMorgan US Treasury Plus MMkt Fund JPMorgan 2,407 24,788-5 BlackRock Liquidity Funds TempFund BlackRock 2,297 10,812-1 AQR Managed Futures Strategy Fund AQR Funds , AQR Long-Short Equity Fund AQR Funds 211 2, Catalyst/Millburn Hedge Strategy Fund Catalyst Mutual Funds 151 1,326-4 PIMCO Emerging Markets Currency Fund Pimco 108 3,942-5 Calamos Market Neutral Income Calamos 95 4, Vanguard Instl Trgt Retire 2025 Fd Vanguard 1,187 16,311-2 Vanguard Instl Trgt Retire 2030 Fd Vanguard 1,023 13,989-3 Vanguard Instl Trgt Retire 2020 Fd Vanguard ,767-4 Vanguard Instl Trgt Retire 2035 Fd Vanguard ,916-5 Vanguard Instl Trgt Retire 2040 Fd Vanguard ,701 - For internal use only Page 25

29 Asia TOP SELLING ACTIVE FUNDS Universe: ACTIVE FUNDS (Ex Index, ETF, Feeder & FoF) Fund name Company Flows AUM MS rating YTD () () (AUM weighted) 1 UBSHana New MMF S29 UBS Hana 1,437 3,798-2 Axis Liquid AXIS 1,129 2,519-3 Birla Sun Life Cash Plus Birla Sun Life 1,016 4,418-4 HyundaiInvmt Corporate MMF 2 Hyundai 994 3,028-5 BNK Institutional MMF 1 GS Asset 842 1,593-1 SMAM Global AI Fund Sumitomo 129 2,213 - FoF Alternative Money mkt Multiasset Bond Equity 2 Nomura India Equity Nomura 100 1, AMOne World Mid-Small Cap Equity Fund AM One AMOne Global High Qual Gr Eq Fd UnHdg AM One JPMorgan Asia Equity Dividend Fund JPMorgan 74 1,781-1 Krung Thai Fixed Income FIF 127 Krung Thai Bank MiraeAsset Global Master Bond Mirae Asset 272 2,482-3 ICICI Pru Flexi Income ICICI Prudential 259 3,101-4 SCB Foreign Fixed Income 1YD5 Siam Commercial Bank Franklin US Int Rate Lnkd SA Mstr Loan Franklin Templeton LM Australia High Dividend Eq Fd D1M Legg Mason 479 3, JPMorgan Multi Income Fund JPMorgan 467 4,807-3 SCB Global Income Siam Commercial Bank TMA Japanese Yen Asset Balance Fund D1M Tokio Marine Asset Manag 138 2, Schroder Asian Asset Income Schroders 130 4,708-1 UBSHana New MMF S29 UBS Hana 1,437 3,798-2 Axis Liquid AXIS 1,129 2,519-3 Birla Sun Life Cash Plus Birla Sun Life 1,016 4,418-4 HyundaiInvmt Corporate MMF 2 Hyundai 994 3,028-5 BNK Institutional MMF 1 GS Asset 842 1,593-1 ICICI Pru Equity Arbitrage ICICI Prudential 37 1,021-2 Daiwa Bull 3 Japan Equity Portfolio 4 Daiwa MUKAM Jpn Eq Div Eq Price Vltl Ctrl Mitsubishi UFJ Nomura Hyper Bull/Bear 5(Japan Bull5) Nomura Reliance Arbitrage Adv Reliance Franklin US Int Rate Lnkd SA Fdr Loan Franklin Templeton MiraeAsset Global Dynamic Feeder Bond 1 Mirae Asset 230 1,605-3 Eastspring US Bank Loan SA Fdr Loan Hdgd Eastspring Investments AMOne Currency Select J-REIT Fd D1M BRL AM One Deutsche DWS RUB Bond Fund D1M Deutsche Bank For internal use only Page 26

30 Worldwide TOP SELLING PIONEER FUNDS Universe: ACTIVE FUNDS (Ex Index, ETF, Feeder & FoF) Fund name Flows AUM MS rating Category YTD () () (AUM weighted) 1 Pioneer Fds Euro Strategic Bond Fixed Income 176 3, Pioneer FS Divers Inc Best Sel Allocation Pioneer Fds EM Bond Short-Term Fixed Income 129 1,161-4 Pioneer Obb Più a distribuzione Allocation 120 4, Pioneer Fds Real Assets Target Income Allocation Pioneer Fds US High Yield Fixed Income 88 3, Pioneer AMT Free Municipal Fund Tax Preferred 87 1, Pioneer Fds US Dollar Agg Bd Fixed Income 77 1, Pioneer Fds Eurpn Eq Value Equity Pioneer SF Divers Shrt-Term Bd Fixed Income Pioneer Obbligazionario Globale HY Fixed Income Pioneer Bond Fund Fixed Income 45 4, Pioneer Fds Glbl High Yield Fixed Income 44 2, Pioneer Fds Abs Ret Multi Str Alternative 39 1, Pioneer Target Controllo Alternative 38 2, Pioneer Fds Global Inflation-Lnkd Sht-Tm Fixed Income Pioneer Fds Euro Corp Bond Fixed Income 30 3, PB VP Nachhaltig B Allocation Pioneer Fds Euroland Equity Equity 26 1, Pioneer Global Multisector Income Fund Fixed Income Pioneer SICAV Emerg Mkts Bd HVB Vermögensdepot priv Wachstum PI 30 1,382 2 FoF 3 Core Series - Core MA Inc Core Series - Core Champions 9 1, Pioneer Fds (A) Healthcare Stock For internal use only Page 27

31 Europe TOP SELLING PIONEER FUNDS Universe: ACTIVE FUNDS (Ex Index, ETF, Feeder & FoF) Fund name Flows AUM MS rating Category YTD (mln ) (mln ) (AUM weighted) 1 Pioneer Fds Euro Strategic Bond Fixed Income 163 2, Pioneer FS Divers Inc Best Sel Allocation Pioneer Fds EM Bond Short-Term Fixed Income 120 1,074-4 Pioneer Obb Più a distribuzione Allocation 111 3, Pioneer Fds Real Assets Target Income Allocation Pioneer Fds US High Yield Fixed Income 81 3, Pioneer Fds US Dollar Agg Bd Fixed Income 71 1, Pioneer Fds Eurpn Eq Value Equity FoF 9 Pioneer SF Divers Shrt-Term Bd Fixed Income Pioneer Obbligazionario Globale HY Fixed Income Pioneer Fds Glbl High Yield Fixed Income 41 1, Pioneer Fds Abs Ret Multi Str Alternative Pioneer Target Controllo Alternative 35 2, Pioneer Fds Global Inflation-Lnkd Sht-Tm Fixed Income Pioneer Fds Euro Corp Bond Fixed Income 28 2, PB VP Nachhaltig B Allocation Pioneer Fds Euroland Equity Equity 24 1, Priv Bank Verm.ptfl Klassik 50 PI Allocation Pioneer Fds (A) Glb Bal Target Inc P Allocation Pioneer Fds Optml Yld Shrt-Term Fixed Income Pioneer SICAV Emerg Mkts Bd 35 4, HVB Vermögensdepot priv Wachstum PI 28 1, Core Series - Core MA Inc 19 1,423-4 Core Series - Core Champions Pioneer Fds (A) Healthcare Stock For internal use only Page 28

32 US TOP SELLING PIONEER FUNDS Universe: ACTIVE FUNDS (Ex Index, ETF, Feeder & FoF) Fund name Flows AUM MS rating Category YTD () () (AUM weighted) 1 Pioneer AMT Free Municipal Fund US Fund Muni National Long 87 1, Pioneer Bond Fund US Fund Intermediate-Term Bond 45 4, Pioneer Global Multisector Income Fund US Fund World Bond Pioneer Floating Rate Fund US Fund Bank Loan Pioneer Equity Income US Fund Large Value 19 2, Pioneer US Corporate High Yield Fund US Fund High Yield Bond Pioneer High Income Municipal Fund US Fund High Yield Muni Pioneer Dynamic Credit US Fund Nontraditional Bond Pioneer International Equity Fund US Fund Foreign Large Blend Pioneer Emerging Markets Fund US Fund Diversified Emerging Mkts Pioneer Select Mid Cap Growth Fund US Fund Mid-Cap Growth -2 1, Pioneer Global Equity Fund US Fund World Stock Pioneer Classic Balanced Fund US Fund Allocation--50% to 70% Equity Pioneer US Government Money Market Fund US Fund Prime Money Market Pioneer Multi-Asset Income Fund US Fund Allocation--30% to 50% Equity Pioneer Disciplined Growth Fund US Fund Large Growth -5 1, Pioneer Real Estate Shares Fund US Fund Real Estate Pioneer Mid Cap Value Fund US Fund Mid-Cap Value -9 1, Pioneer Short Term Income Fund US Fund Short-Term Bond Pioneer Global High Yield Fund US Fund High Yield Bond Pioneer Solutions Growth Fund Pioneer Solutions Balanced Fund FoF 3 Pioneer Solutions Conservative Fund For internal use only Page 29

33 Asia TOP SELLING PIONEER FUNDS Universe: ACTIVE FUNDS (Ex Index, ETF, Feeder & FoF) Fund name Flows AUM MS rating Category YTD () () (AUM weighted) 1 Baroda Pioneer Liquid Asia Money Market Baroda Pioneer Treasury Advantage India Fixed Income Baroda Pioneer S/T Bond India Fixed Income Baroda Pioneer Credit Opp India Fixed Income Baroda Pioneer Growth India Equity Baroda Pioneer Balance Moderate Allocation Baroda Pioneer ELSS 96 India Equity Baroda Pioneer MIP Cautious Allocation Baroda Pioneer Mid-cap India Equity Baroda Pioneer Large Cap India Equity Baroda Pioneer Banking & Fin Services India Equity Baroda Pioneer Dynamic Bond India Fixed Income Baroda Pioneer Gilt India Fixed Income Baroda Pioneer Income India Fixed Income FoF For internal use only Page 30

34 Fund name Worldwide TOP SELLING PASSIVE FUNDS Universe: PASSIVE FUNDS (Index & ETF ONLY) Flows AUM Category YTD () () 1 Vanguard Total Stock Market Index Fund US Equity Large Cap Blend 44, ,452 2 Vanguard 500 Index Fund US Equity Large Cap Blend 36, ,566 3 Vanguard Total Intl Stock Idx Fund Global Equity Large Cap 35, ,928 4 SPDR S&P 500 ETF US Equity Large Cap Blend 26,180 1,567 5 Vanguard Total Bond Market Index Fund US Fixed Income 21, ,815 6 Vanguard Total Bond Market II Index Fund US Fixed Income 19, ,013 7 Vanguard Total International Bd Idx Fund Global Fixed Income 14,068 68,204 8 Vanguard Developed Markets Index Fund Global Equity Large Cap 13,316 67,356 9 ishares Core S&P 500 US Equity Large Cap Blend 13,222 90, ishares Core US Aggregate Bond US Fixed Income 11,212 41, Nomura Topix Listed Japan Equity 8,267 33, ishares Core MSCI Emerging Markets Emerging Markets Equity 7,481 17, Fidelity 500 Index Fund US Equity Large Cap Blend 7, , SPDR Gold Shares Commodities Precious Metals 7,218 30, Vanguard Value Index Fund US Equity Large Cap Value 6,863 50, ishares TIPS Bond Inflation Linked 6,817 21, Vanguard Emerging Markets Stock Idx Fund Emerging Markets Equity 6,741 61, Nomura Nikkei225 Listed Japan Equity 6,344 34, ishares Core MSCI EAFE Global Equity Large Cap 6,237 15, Vanguard Intermediate-Term Bond Index Fd US Fixed Income 6,154 28,771 For internal use only Page 31

35 Fund name Europe TOP SELLING PASSIVE FUNDS Universe: PASSIVE FUNDS (Index & ETF ONLY) Flows AUM Category YTD (mln ) (mln ) 1 ishares Core S&P 500 USD Acc US Equity Large Cap Blend 4,148 18,252 2 Vanguard S&P 500 ETF US Equity Large Cap Blend 2,598 15,926 3 ishares Core MSCI World USD Acc Global Equity Large Cap 2,298 7,918 4 Xetra-Gold Commodities Precious Metals 2,167 4,157 5 Vanguard Global Bond Index Fund Global Fixed Income 2,141 6,017 6 ishares Core MSCI EM IMI Emerging Markets Equity 2,011 3,689 7 ishares Physical Gold ETC Commodities Precious Metals 1,787 2,111 8 ishares Ultrashort Bond Euro Fixed Income 1,624 1,889 9 ETFS Physical Gold Commodities Precious Metals 1,564 5, Amundi ETF MSCI Emerging Markets Emerging Markets Equity 1,528 2, Vanguard US Trs Infl-Prot Secs Idx Inflation Linked 1,480 1, ishares High Yield Corp Bond High Yield Fixed Income 1,453 5, ishares $ TIPS Inflation Linked 1,430 3, Source Physical Gold P-ETC Commodities Precious Metals 1,404 3, ishares EM Local Govt Bond USD Dist Emerging Markets Fixed Income 1,392 3, Amundi ETF Floating Rate USD Corporate Other Fixed Income 1,299 1, ishares Corp Bond 1-5yr EUR Dist Euro Fixed Income 1,193 3, ishares JP Morgan $ EM Bond USD Dist Emerging Markets Fixed Income 1,185 5, ishares Core Corp Bond EUR Dist Euro Fixed Income 1,035 7, ishares Euro Corporate Bond Large Cap Euro Fixed Income 957 5,115 For internal use only Page 32

36 Fund name US TOP SELLING PASSIVE FUNDS Universe: PASSIVE FUNDS (Index & ETF ONLY) Flows AUM Category YTD () () 1 Vanguard Total Stock Market Index Fund US Equity Large Cap Blend 44, ,452 2 Vanguard 500 Index Fund US Equity Large Cap Blend 36, ,566 3 Vanguard Total Intl Stock Idx Fund Global Equity Large Cap 35, ,928 4 SPDR S&P 500 ETF US Equity Large Cap Blend 26, ,820 5 Vanguard Total Bond Market Index Fund US Fixed Income 21, ,815 6 Vanguard Total Bond Market II Index Fund US Fixed Income 19, ,013 7 Vanguard Total International Bd Idx Fund Global Fixed Income 14,068 68,204 8 Vanguard Developed Markets Index Fund Global Equity Large Cap 13,316 67,356 9 ishares Core S&P 500 US Equity Large Cap Blend 13,222 90, ishares Core US Aggregate Bond US Fixed Income 11,212 41, ishares Core MSCI Emerging Markets Emerging Markets Equity 7,481 17, Fidelity 500 Index Fund US Equity Large Cap Blend 7, , SPDR Gold Shares Commodities Precious Metals 7,218 30, Vanguard Value Index Fund US Equity Large Cap Value 6,863 50, ishares TIPS Bond Inflation Linked 6,817 21, Vanguard Emerging Markets Stock Idx Fund Emerging Markets Equity 6,741 61, ishares Core MSCI EAFE Global Equity Large Cap 6,237 15, Vanguard Intermediate-Term Bond Index Fd US Fixed Income 6,154 28, Fidelity US Bond Index Fund US Fixed Income 6,100 27, Vanguard REIT Index Fund Real Estate Sector Equity 5,760 61,267 For internal use only Page 33

37 Fund name Asia TOP SELLING PASSIVE FUNDS Universe: PASSIVE FUNDS (Index & ETF ONLY) Flows AUM Category YTD () () 1 Nomura Topix Listed Japan Equity 8,267 33,305 2 Nomura Nikkei225 Listed Japan Equity 6,344 34,733 3 Daiwa Topix Listed Japan Equity 3,825 15,528 4 Nikko Topix Listed Japan Equity 3,428 14,726 5 Nikko Nikkei225 Listed Japan Equity 3,211 16,990 6 Daiwa Nikkei225 Listed Japan Equity 3,076 16,128 7 Yuanta Daily Taiwan 50 Bear -1X ETF Trading Tools 2,200 2,342 8 AMOne DIAM ETF Nikkei225 Japan Equity 1,193 2,276 9 SBI-ETF Nifty 50 India Equity 1,192 1, NEXT FUNDS Nikkei 225 Dble Invrs Idx ETF Other Alternative 1,105 1, ishares Core Nikkei 225 ETF Japan Equity 964 3, NEXT FUNDS JPX-Nikkei Index 400 ETF Japan Equity 926 3, ABF Pan Asia Bond Index Asia Fixed Income 925 3, Samsung KODEX Inverse ETF Miscellaneous 755 1, Tracker Fund of Hong Kong Greater China Equity , MAXIS TOPIX ETF Japan Equity 658 4, Daiwa ETF MSCI Jpn Human&Physical Invmt Japan Equity AMOne DIAM ETF JPX/S&P CAPEX&Human Cptl Japan Equity MAXIS JPX-Nikkei Index 400 ETF Japan Equity 567 1, NEXT FUNDS REIT Index ETF Real Estate Sector Equity 564 1,939 For internal use only Page 34