Slide 1: Annual Results 2020 Data Pack
Annual Results 2020 Data Pack 04 March 2021
Slide 2: Contents
Contents Page Assets under management (AUM) 2-3 Gross and net flows 4-7 Currency profile of AUM 8 AUM by business area, region and product 9 Asset Management AUM – detailed asset class analysis 10-12 Asset Management by business area - gross and net flows 13-16 Wealth Management 17 Net operating rev
Slide 3: Assets under management (AUM)
Assets under management (AUM) £574.4 billion at 31 December 2020 Private Assets Mutual Asset Wealth Group Total Total AUM inc. £bn Solutions Institutional BoCom Axis Other & Alternatives Funds Management Management AUM Associates 1 January 2020 44.2 142.8 102.4 144.1 433.5 66.7 500.2 54.6 13.6 1.0 5
Slide 4: Assets under management (AUM)
Assets under management (AUM) £574.4 billion at 31 December 2020 UK £275.3bn Continental Europe £96.4bn North America £79.1bn Middle East and Africa Asia Pacific £11.9bn £102.5bn South America £9.2bn 3 Data Pack 2020
Slide 5: Gross flows – Half-yearly
Gross flows Half-yearly £bn 100 94.0 90.5 80 60 54.5 52.7 42.1 40 37.8 20 0 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 Equities Fixed Income Multi-asset Private Assets & Alternatives Wealth Management 4 Data Pack 2020
Slide 6: Gross flows – Annually
Gross flows Annually £bn 160 148.5 140 132.6 120 100 90.5 80 60 40 20 0 2018 2019 2020 Equities Fixed Income Multi-asset Private Assets & Alternatives Wealth Management 5 Data Pack 2020
Slide 7: Net flows – Half-yearly
Net flows Half-yearly £bn 50 38.1 44.6 40 30 20 10 1.2 4.4 0 (10) (1.2) (10.7) (20) H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 Equities Fixed Income Multi-asset Private Assets & Alternatives Wealth Management 6 Data Pack 2020
Slide 8: Net flows – Annually
Net flows Annually £bn 50 42.5 43.4 40 30 20 10 0 (10) (20) (9.5) 2018 2019 2020 Equities Fixed Income Multi-asset Private Assets & Alternatives Wealth Management 7 Data Pack 2020
Slide 9: Currency profile of AUM
Currency profile of AUM Assets under management £574.4 billion 8% 2% 2% 2% 3% 32% 3% 6% 14% 28% GBP USD¹ EUR CNY JPY AUD KRW TWD CHF Other² 1 USD includes other currencies pegged to USD, including HKD. 2 Includes the following currencies which each constitute 1% of AUM: INR, IDR, SGD, BRL, CAD, SEK.
Slide 10: Total AUM by business area, region and product
Total AUM by business area, region and product Assets under management £574.4 billion By business area By region1 By product 8% 15% 8% 13% 33% 13% 33% 18% 48% 18% 17% 19% 28% 29% Solutions UK Equities Institutional Europe, Middle East & Africa Multi-asset Mutual Funds Fixed Income Asia Pacific Wealt
Slide 11: Asset Management AUM – detailed asset class analysis
Asset Management AUM – detailed asset class analysis Assets under management £502.4 billion Private Assets & Alternatives Solutions Mutual Funds Institutional £46.1bn £192.3bn £104.2bn £159.8bn Real estate 37% Multi asset 81% Equities 53% Equities 71% Private Equity 19% Equities 11% Fixed Income 34%
Slide 12: Asset Management AUM – detailed asset class analysis
Asset Management AUM – detailed asset class analysis Assets under management £502.4 billion Private Assets & Alternatives Solutions Mutual Funds Institutional £46.1bn £192.3bn £104.2bn £159.8bn Europe, Middle East & Africa 53% UK 77% Europe, Middle East & Africa 37% Americas 34% UK 26% Asia Pacific
Slide 13: Asset Management AUM – detailed asset class analysis
Asset Management AUM – detailed asset class analysis Assets under management £502.4 billion Equities Multi-asset Fixed Income Private Assets & Alternatives £188.5bn £169.4bn £98.4bn £46.1bn Asia Pacific 25% Risk controlled growth 46% US 25% Real estate 37% Global 20% LDI Global 24% Private equity 19
Slide 14: Private Assets & Alternatives – gross and net flows
Private Assets & Alternatives – gross and net flows Assets under management £46.1 billion £bn 8.0 5.9 6.0 3.7 4.1 4.0 3.6 3.2 3.2 3.2 2.0 1.4 0.9 0.9 0.0 (0.4) (0.4) (2.0) (1.8) (2.3) (2.7) (4.0) (3.2) (4.1) (4.0) (6.0) H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 Gross inflows Gross outflows Net
Slide 15: Solutions – gross and net flows
Solutions – gross and net flows Assets under management £192.3 billion £bn 60.0 55.8 50.0 42.7 40.0 40.0 32.4 30.0 20.0 10.7 13.0 10.0 6.9 6.6 3.4 2.1 0.2 0.7 0.0 (4.5) (10.0) (6.7) (7.6) (7.3) (13.1) (12.3) (20.0) H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 Gross inflows Gross outflows Net flow
Slide 16: Mutual Funds – gross and net flows
Mutual Funds – gross and net flows Assets under management £104.2 billion £bn 30.0 23.4 19.3 20.1 20.2 20.0 18.8 16.4 10.0 0.7 1.7 0.3 0.0 (1.8) (4.2) (4.8) (10.0) (20.0) (18.5) (20.6) (19.8) (21.1) (22.7) (23.6) (30.0) H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 Gross inflows Gross outflows Net
Slide 17: Institutional – gross and net flows
Institutional – gross and net flows Assets under management £159.8 billion £bn 20.0 13.0 11.6 11.4 10.0 9.1 8.0 7.6 0.7 0.0 (0.7) (2.0) (5.0) (5.1) (10.0) (8.6) (11.1) (12.7) (12.1) (12.3) (16.6) (16.6) (20.0) H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 Gross inflows Gross outflows Net flows 16
Slide 18: Wealth Management
Wealth Management Assets under management £72.0 billion Clients by portfolio size Gross and net flows £bn 13% 14% 20 16.9 8% 15 13.8 18% 9% 10 11% 4.4 4.2 11% 5 3.8 3.4 3.3 16% 1.2 0.9 1.3 0.5 0.4 0 <£1m £1m - £5m (2.6) (2.8) (2.5) (3.1) (3.1) (5) (3.8) £5m - £10m £10m - £25m H1 2018 H2 2018 H1 2019
Slide 19: Net operating revenue and margins – Asset Management
Net operating revenue and margins – Asset Management Asset Management net operating revenue £1,747.2 million £m 2019 2020 Performance fees - £m 42.9 85.8 Net carried interest - £m 29.3 8.8 Performance fees and net carried interest on average AUM 2 bps 2 bps Net operating revenue (ex performance fees
Slide 20: Income statement progression – Asset Management
Income statement progression Asset Management profit before tax £m 2018 2019 2020 Net operating revenue 1,788.8 1,763.1 1,747.2 Net loss on financial instruments and other income (3.3) (5.4) (9.8) Share of profit of associates and joint ventures 15.7 23.5 49.5 Net income 1,801.2 1,781.2 1,786.9 Oper
Slide 21: Income statement progression – Wealth Management
Income statement progression Wealth Management profit before tax £m 2018 2019 2020 Net operating revenue 281.9 302.1 366.9 Net gain on financial instruments and other income 7.5 6.5 14.7 Share of profit of associates and joint ventures 0.4 1.0 1.1 Net income 289.8 309.6 382.7 Operating expenses (196
Slide 22: Income statement progression – Group segment
Income statement progression Group segment profit before tax £m 2018 2019 2020 Net gain on financial instruments and other income 29.1 40.8 58.1 Share of profit of associates 3.8 4.1 - Net income 32.9 44.9 58.1 Operating expenses (35.9) (38.1) (39.6) Group (loss)/profit before tax and exceptional it
Slide 23: Cost and return metrics
Cost and return metrics Total costs1 2018 2019 2020 Total compensation ratio Total compensation ratio1 43% 44% 45% = compensation costs divided by net income2 Headcount 5,039 5,673 5,571 Total costs (£m)1 1,362.7 1,423.6 1,476.9 Ratio of total costs to net income Ratio of total costs to net income1
Slide 24: Annual Results 2020 Data Pack
Annual Results 2020 Data Pack 04 March 2021