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Global assets under management Global assets under management consists of assets held by asset management firms, pension funds, sovereign wealth funds, hedge funds, and private equity funds.\n\n\n== Assets by classification ==\nAM - Asset Management Firm\nFOREX - Foreign Exchange Reserves\nHF - Hedge Fund\nMF - (Exchange Traded) Mutual Fund\nPEN - Pension Fund\nPE - Private Equity Firm\nSWF - Sovereign Wealth Fund\nUHNWI - (Billionaire) Ultra High-Net-Worth Individual^1 Around one third of private wealth is incorporated in conventional investment management (Pension funds, Mutual funds and Insurance assets).
List of largest banks These are lists of the banks in the world, as measured by total assets.\n\n\n== By total assets ==\nThe list is based on the April 2021 S&P Global Market Intelligence report of the 100 largest banks in the world.
List of asset management firms An asset management company (AMC) is an asset management / investment management company/firm that invests the pooled funds of retail investors in securities in line with the stated investment objectives. For a fee, the company/firm provides more diversification, liquidity, and professional management consulting service than is normally available to individual investors.
Brookfield Asset Management Brookfield Asset Management Inc. is a Canadian multinational company that is one of the world's largest alternative investment management companies, with US$688 billion of assets under management in 2021.
Asset In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value.
List of largest banks in the United States The following table lists the 100 largest bank holding companies in the United States ranked by total assets of September 30, 2021 per the Federal Financial Institutions Examination Council; their market capitalization is also shown. This list does not include some large commercial banks, which are not holding companies.
Investment management Investment management is the professional asset management of various securities, including shareholdings, bonds, and other assets, such as real estate, to meet specified investment goals for the benefit of investors. Investors may be institutions, such as insurance companies, pension funds, corporations, charities, educational establishments, or private investors, either directly via investment contracts or, more commonly, via collective investment schemes like mutual funds, exchange-traded funds, or REITs.
Investment fund An investment fund is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group such as reducing the risks of the investment by a significant percentage. These advantages include an ability to:\n\nhire professional investment managers, who may offer better returns and more adequate risk management;\nbenefit from economies of scale, i.e., lower transaction costs;\nincrease the asset diversification to reduce some unsystematic risk.It remains unclear whether professional active investment managers can reliably enhance risk adjusted returns by an amount that exceeds fees and expenses of investment management.
Structured product A structured product, also known as a market-linked investment, is a pre-packaged structured finance investment strategy based on a single security, a basket of securities, options, indices, commodities, debt issuance or foreign currencies, and to a lesser extent, derivatives.\nStructured products are not homogeneous — there are numerous varieties of derivatives and underlying assets — but they can be classified under the aside categories.
Financial services Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual asset managers, and some government-sponsored enterprises.\n\n\n== History ==\n\nThe term "financial services" became more prevalent in the United States partly as a result of the Gramm–Leach–Bliley Act of the late 1990s, which enabled different types of companies operating in the U.S. financial services industry at that time to merge.Companies usually have two distinct approaches to this new type of business.
Investment Investment is the dedication of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort.
Responsability investments responsAbility Investments AG is a private Swiss enterprise, founded in 2003 and headquartered in Zurich. Its core business are investments in microfinance companies which provide credit and other banking services to very small, small and medium-sized enterprises who have previously had limited access to formal financial services in frontier or developing countries.
Discretionary investment management Discretionary investment management is a form of professional investment management in which investments are made on behalf of clients through a variety of securities. The term "discretionary" refers to investment decisions being made by the investment manager based on the investment manager's judgement rather than under the direction of the client.
Investment banking Investment banking denotes certain activities of a financial services company or a corporate division that consist in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's agent in the issuance of debt or equity securities.
Investment certificate This article is specific to the United States.An investment certificate is an investment product offered by an investment company or brokerage firm designed to offer a competitive yield to an investor with the added safety of their principal.A certificate allows the investor to make an investment and to earn a guaranteed interest rate for a predetermined amount of time. The product rules and specifics can vary depending on the company selling the certificates.
Investcorp Investcorp is a global manager of alternative investment products, for private and institutional clients. Founded in Bahrain in 1982, the firm has offices in United States, United Kingdom, Saudi Arabia, Qatar, United Arab Emirates, India, China and Singapore.
Investment company An investment company is a financial institution principally engaged in investing in securities. These companies in the United States are regulated by the U.S. Securities and Exchange Commission and must be registered under the Investment Company Act of 1940.
Foreign direct investment A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct control.
Investment (macroeconomics) In macroeconomics, investment "consists of the additions to the nation's capital stock of buildings, equipment, software, and inventories during a year" or, alternatively, investment spending — "spending on productive physical capital such as machinery and construction of buildings, and on changes to inventories — as part of total spending" on goods and services per year.The types of investment include residential investment in housing that will provide a flow of housing services over an extended time, non-residential fixed investment in things such as new machinery or factories, human capital investment in workforce education, and inventory investment (the accumulation, intentional or unintentional, of goods inventories)\nIn measures of national income and output, "gross investment" (represented by the variable I ) is a component of gross domestic product (GDP), given in the formula GDP = C + I + G + NX, where C is consumption, G is government spending, and NX is net exports, given by the difference between the exports and imports, X − M. Thus investment is everything that remains of total expenditure after consumption, government spending, and net exports are subtracted (i.e. I = GDP − C − G − NX ).
Finance Finance is the study and discipline of money, currency and capital assets. It is related with, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services.
Alternative investment An alternative investment (also called an alternative asset) is an investment in any asset class excluding stocks, bonds, and cash. The term is a relatively loose one and includes tangible assets such as precious metals, collectibles (art, wine, antiques, cars, coins, musical instruments, or stamps) and some financial assets such as real estate, commodities, private equity, distressed securities, hedge funds, exchange funds, carbon credits, venture capital, film production, financial derivatives, cryptocurrencies, non-fungible tokens, and tax receivable agreements.
Financial condition report In accounting, a financial condition report (FCR) is a report on the solvency condition of an insurance company that takes into account both the current financial status, as reflected in the balance sheet, and an assessment of the ability of the company to survive future risk scenarios. Risk assessment in an FCR involves dynamic solvency testing, a type of dynamic financial analysis that simulates management response to risk scenarios, to test whether a company could remain solvent in the face of deteriorating economic conditions or major disasters.
Balance sheet In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year.
Financial statement Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity.\nRelevant financial information is presented in a structured manner and in a form which is easy to understand.
Financial ratio A financial ratio or accounting ratio is a relative magnitude of two selected numerical values taken from an enterprise's financial statements. Often used in accounting, there are many standard ratios used to try to evaluate the overall financial condition of a corporation or other organization.
Financial law Financial law is the law and regulation of the insurance, derivatives, commercial banking, capital markets and investment management sectors. Understanding Financial law is crucial to appreciating the creation and formation of banking and financial regulation, as well as the legal framework for finance generally.
Trustmark (bank) Trustmark is a commercial bank and financial services company headquartered in Jackson, Mississippi, United States, with subsidiaries Trustmark National Bank, Trustmark Investment Advisors, and Fisher Brown Bottrell Insurance. The bank's initial predecessor, The Jackson Bank, was chartered by the State of Mississippi in 1889.
Financial analysis Financial analysis (also referred to as financial statement analysis or accounting analysis or Analysis of finance) refers to an assessment of the viability, stability, and profitability of a business, sub-business or project. \nIt is performed by professionals who prepare reports using ratios and other techniques, that make use of information taken from financial statements and other reports.
Federal takeover of Fannie Mae and Freddie Mac In September 2008 the Federal Housing Finance Agency (FHFA) announced that it would take over the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Both government-sponsored enterprises, which finance home mortgages in the United States by issuing bonds, had become illiquid as the market for those bonds collapsed in the subprime mortgage crisis.
Arithmetic Arithmetic (from Ancient Greek ἀριθμός (arithmós) 'number', and τική [τέχνη] (tikḗ [tékhnē]) 'art, craft') is an elementary part of mathematics that consists of the study of the properties of the traditional operations on numbers—addition, subtraction, multiplication, division, exponentiation, and extraction of roots. In the 19th century, Italian mathematician Giuseppe Peano formalized arithmetic with his Peano axioms, which are highly important to the field of mathematical logic today.
Special Activities Center The Special Activities Center (SAC) is a division of the Central Intelligence Agency responsible for covert operations and paramilitary operations. The unit was named Special Activities Division (SAD) prior to 2015.
Operations management Operations management is an area of management concerned with designing and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed and effective in meeting customer requirements.
Emergency operations center An emergency operations center (EOC) is a central command and control facility responsible for carrying out the principles of emergency preparedness and emergency management, or disaster management functions at a strategic level during an emergency, and ensuring the continuity of operation of a company, political subdivision or other organization.\nAn EOC is responsible for strategic direction and operational decisions and does not normally directly control field assets, instead leaving tactical decisions to lower commands.
Operations research Operations research (British English: operational research), often shortened to the initialism OR, is a discipline that deals with the development and application of advanced analytical methods to improve decision-making. It is sometimes considered to be a subfield of mathematical sciences.
Operation (mathematics) In mathematics, an operation is a function which takes zero or more input values (called operands) to a well-defined output value. The number of operands (also known as arguments) is the arity of the operation.
Surgery Surgery is a medical or dental specialty that uses operative manual and instrumental techniques on a person to investigate or treat a pathological condition such as a disease or injury, to help improve bodily function, appearance, or to repair unwanted ruptured areas.\nThe act of performing surgery may be called a surgical procedure, operation, or simply "surgery".
Bitwise operation In computer programming, a bitwise operation operates on a bit string, a bit array or a binary numeral (considered as a bit string) at the level of its individual bits. It is a fast and simple action, basic to the higher-level arithmetic operations and directly supported by the processor.
Risk Factors
JANUS CAPITAL GROUP INC ITEM 1A RISK FACTORS Janus &apos revenues and profits are largely dependent on the value of assets under management
Almost all of Janus &apos revenues are dependent on the total value and composition of assets under management
Any decrease in the value or amount of assets under management will cause a decline in revenues and operating results
Assets under management may decline for various reasons, many of which are not under Janus &apos control
6 _________________________________________________________________ For any period in which revenues decline, operating margin may decline by a greater proportion because of the high percentage of fixed costs
Factors that could cause assets under management and revenues to decline include the following: • Declines in the equity markets
Janus &apos assets under management are concentrated in the US equity markets and, to a lesser extent, in the international equity markets
As such, declines in the equity markets or the market segments in which Janus &apos investment products are concentrated will cause assets under management to decrease
• Changes in interest rates and defaults
In the case of money market and other fixed income investment products, which invest in high-quality short-term money market instruments, as well as other fixed income securities, the value of the assets may decline as a result of changes in interest rates, an issuerapstas actual or perceived creditworthiness or an issuerapstas ability to meet its obligations
Redemptions and other withdrawals
Investors (in response to adverse market conditions, inconsistent investment performance, the pursuit of other investment opportunities, regulatory investigations, civil lawsuits or otherwise) may reduce their investments in specific Janus investment products or in the market segments in which Janus &apos investment products are concentrated
Political and general economic risks
The investment products managed by Janus may invest significant funds in international markets that are subject to risk of loss from political or diplomatic developments, government policies, civil unrest, currency fluctuations and changes in legislation related to foreign ownership
International markets, particularly emerging markets, are often smaller, may not have the liquidity of established markets, may lack established regulations and may experience significantly more volatility than established markets
• A concentration in the Growth Equity discipline
At December 31, 2005, approximately half of Janus &apos assets under management were concentrated in the growth equity investment discipline
During periods where the general investing public does not favor the growth equity discipline, Janus may experience a reduction of gross sales or an increase in gross redemptions
Janus is dependent upon third-party distribution channels to access clients and potential clients
Janus &apos ability to market its investment products is significantly dependent on access to the client base of insurance companies, defined contribution plan administrators, securities firms, broker-dealers, banks and other distribution channels
These companies generally offer their clients various investment products in addition to, and in competition with, Janus
Further, the private account business uses referrals from financial planners, professional investment advisers and other professionals
Janus cannot be certain that it will continue to have access to these third-party distribution channels or have an opportunity to offer some or all of its investment products through these channels
The inability to access clients through third-party distribution channels could have a material adverse effect on Janus &apos ability to maintain or increase assets under management, its financial condition, results of operations or business prospects
Janus &apos results are dependent on its ability to attract and retain key personnel
The investment management business is highly dependent on the ability to attract, retain and motivate highly skilled, and often highly specialized, technical, executive, sales and management personnel
The market for investment and sales professionals is extremely competitive and is increasingly characterized by the frequent movement of portfolio managers, analysts and salespersons among different firms
If Janus is unable to retain key personnel, it could have an adverse effect on Janus &apos results of operations and financial condition
Additionally, portfolio managers and salespersons often maintain relationships with their clients
As such, the departure of a portfolio manager or salesperson may cause the loss of clients, which could have an adverse effect on Janus &apos results of operations and financial condition
7 _________________________________________________________________ INTECHapstas investment process is highly dependent on key employees and proprietary software
Over the last two years, INTECH has become a more significant part of Janus &apos investment management business finishing 2005 with assets under management of dlra44dtta7 billion, representing 30prca of total assets under management and 16prca of total Investment Management segment revenue
INTECHapstas investment process is based on complex and proprietary mathematical models, which seek to outperform various indices by capitalizing on market volatility while controlling trading costs and overall risk relative to the index
The maintenance of such models for current products and the development of new products are highly dependent on certain key INTECH employees
A succession plan is in place in the event these key employees were unable to perform their current duties or if they terminate employment; however, there is no guarantee that such plan will be successful
If this plan is not successful, or if the mathematical investment strategies fail to produce the intended results, INTECH may not be able to maintain the historical level of strong investment performance and clients may redeem assets, which could have an adverse effect on Janus &apos results of operations and financial condition
The regulatory environment in which Janus operates has changed and may continue to change
Janus may be adversely affected as a result of new or revised legislation or regulations or by changes in the interpretation or enforcement of existing laws and regulations
Compliance with these and other new reporting and operational requirements and regulations has increased significantly and may continue to increase the cost of operating mutual funds and related investment products, which could have an adverse effect on Janus &apos results of operations and financial condition (See Item 1, Business — Regulation)
Janus is named as a defendant in class action lawsuits and other related litigation
Janus, the Janus board of directors, certain of the Janus funds, the Janus fundapstas trustees and certain (past and present) officers of Janus are named as defendants in class action lawsuits and other related litigation (See Item 8, Note 16)
These lawsuits seek unspecified compensatory and punitive damages
Janus is unable to estimate the range of potential losses that would be incurred if the plaintiffs in any of these actions were to prevail, or to determine the total potential effect that they may have on Janus &apos results of operations, financial position and cash flows
Any settlement or judgment on the merits of these actions could have a material adverse effect on Janus &apos liquidity, results of operations and financial condition
Janus &apos business is vulnerable to failures in support systems and customer service functions
The ability to consistently and reliably obtain securities pricing information, process shareowner transactions and provide reports and other customer service to the shareowners of funds and other investment products managed by Janus is essential to Janus &apos operations
Any delays or inaccuracies in obtaining pricing information, processing shareowner transactions or providing reports, and any inadequacies in other customer service could alienate customers and potentially give rise to claims against Janus
Janus &apos customer service capabilities, as well as Janus &apos ability to obtain prompt and accurate securities pricing information and to process shareowner transactions and reports, is dependent on communication and information systems and, services provided by third-party vendors
Although Janus has established disaster recovery plans, these systems could suffer failures or interruptions due to various natural or man-made causes, and the backup procedures and capabilities may not be adequate to avoid extended interruptions
Additionally, Janus places significant reliance on its automated customer service systems, thereby increasing the related risks if such systems were to fail
A failure of these systems could have an adverse effect on Janus &apos results of operations and financial condition
Janus &apos business is dependent on investment advisory agreements that are subject to termination, non-renewal or reductions in fees
Janus derives substantially all of its revenue and net income from investment advisory agreements with mutual funds and other investment products
The termination of, or failure to renew, one or more of these agreements or the reduction of the fee rates applicable to such agreements, could have a material adverse effect on revenues and 8 _________________________________________________________________ profits
With respect to investment advisory agreements with mutual funds, these agreements may be terminated by either party with notice, or terminated in the event of an &quote assignment &quote (as defined in the 1940 Act), and must be approved and renewed annually by the independent members of each fundapstas board of directors or trustees, or its shareowners, as required by law
In addition, the board of directors or trustees of certain funds and separate accounts generally may terminate these investment advisory agreements upon written notice for any reason and without penalty
The Printing and Fulfillment segment operates in a highly competitive industry
Rapid Solutions Group ( &quote RSG &quote ), the operating business of the Printing and Fulfillment segment, operates in a highly competitive industry
Competitive factors include not only the speed and accuracy with which RSG can meet customer needs, but also the price and quality of such services
Many of RSGapstas competitors have an advantage in the fact that they are larger, have greater resources and offer a wider range of services
If RSG is unsuccessful in this market, it may not be able to retain current clients or grow the business through the addition of new clients, which could have an adverse effect on Janus &apos results of operations and financial condition