‘AUM by product type and client region at December 31, 2016 is presented below. Garton) Americas EMEA Asia-Pacific Total Equity ‘$1,901,088 $ 687,282 $198,806 $2,657,178, Fed income 806.524 552,952 133,488 +1,572,985 Mutti-ascet 261178 123,645 20,18% ©——395,007 Alternstives| 59.875 36,707 20,86 116,928 Long-term 2.998565 1,369,980 572,835 4,741,486 Cash management 204,464 106,079 3,061 403,584 Aevisory 614 2.168, = 2,782 Totat $3,200,748 91.478293 $975,876 $5:147.962 ‘Component changes in AUM by cliant ragion for 2016 ara presented below. December a1, Netinfiows onan 2015 (outflows) Acquisition —_Marketchange __FXimpact Americas $299602 $103,178. $78,088 gi7gc02 8 2067 $3,208,748 EMEA 308.160 100.453 2552 140,531 (113.463) Asia-Pacific 362,206 497) — 10461 4648 375,876 Totat $4548.62 $202,101 $80,535 $228,364 __$(108,780) ___$5.147,882 (1) Amount roressets AUM acquired inthe BoA Slobal Capital Management transaction in Apri 2016,PRODUCT TYPE AND INVESTMENT STYLE Component changes in AUM by product type and investment style for 2016 are presented below. December 31, Netinflows Market FX December 31, omens) 2015 (outflows) Acquisitions) change pact 20168 Equity: Active 8 21919 20,20 «=—§ SS OHSS IO |S ARO ‘shores 220,166 74914 - sesso (3.287) 9262 Non-ETF indo 1.319,207 2.260) — _va1s20 _aa.e88) 1.490.001 Equity subtotal azar 1424 = 219036 (87,084) 2,687,178 cas incomes betive 719.663 16.625 - mr (9.028) 748,986 ‘shares 254,100, 50913 ~ 3782 © (G.178) 314707 NorETF indo 448.525 43417 = se235 (40.578) 807.662 Fixed income subtotal yaz2a68 119,055 = mero (6277) 1872,965 Muiti-asset 376,396 4207 - 2520 (8.078) 398,007 Alternatives core 92,085 (189) ~ an (3.999) 198,530 Curransy ane eammesitiae 20784 6.123 ~ 1.920 89) 2,308 Alternatives subtotal 112,838 4.988 = 1.628 116,938 Long-term a06a15 ——~180,564 = 826.002 “4741 406 Cash management roa.a8e 7208 50.835, 40 403,584 ‘Advisory 10213, 800) — 8) 2.702 Total 34645412 $202,181 _$80635 $326,964 $(108.750) $5,147,882 (1) Amount epresents UM sequen the Bot Global Captal Management transaction i 12016,AUM by investment style and client type at December 31, 2016s presented below. sno) Retail [Shores __Insttutlonal__Total Active $401,078 § = — $1,008,974 $1,501,052 Non-ETF Index 50,874 = 1901,681 1,982,585, ‘shores = 1287873 = 1.287.879 Long-term 561,952 1207070 2,011,685. 4,741,408 Cash management 26202 — 377382 403,584 Advisory = = 2782 2.782 Totat $568,176 $1,287,870 $3,201,700 $5,147,862 Client Type Product Type Investment Style cient Region Dretait Deauity Dactive Damericas Dishares Ft Incorne Dliedexandishares JE urape he Midale East and Aiea (EMEA) institutional DiMuiti-asset Diasie-Pacfic Tateratives [Cash Management‘Component changes in AUM by product type for the five years ended December 31, 2016 are presented below. ocember31, Notinflons —Adjustmont Markt Docomber31, 5-Year enmatensy zat (outflows) acquisitions change __FXImpact case Eau $1,680,108 27087e —S «11.461 —«$ OREHD —§ (148,098) 11% Faxed income 177 798,004 3.496 2ie3as (129,238) 5% Mutt-ssoet zs70 108.411 6442 85031 (30,047), 12% Alternatives 104,948 2.187 2497 208 @.206) 2% Long-term 3.137.966 678,478 42896 «1,246,685 (314,517) 9% Cash management 254,085 77538 sn,635 3739 (13,048) 10% Advisory sog70 (112.384) — 1606084) (say Total s3s12601___$ 599.692 $123,628 __—$1,250634 $002,626) __$5147.052 e% (1) Amounts ince AUM acqired from Claymere vestments In. Claymore") March 2012 Swiss Ra Private Equity Partners PSRPEP in September 2012, Crea Suess ETF franchise Credt Suisse ETF Tansaction)induly 2013 ane MGPA in Otebee 2013, Amounts aloinclude AUM ‘acquires inthe acqustion of ereain assets of Blackck Kaeo Capital Advisor LC "BKCA) in March 2015, AUM acauired From iraestructra Intitucional and Futursvisorin tober 2016 and AUM acquired inthe BfA® Global Capital Management ransactionin Apri 2018. addon, ‘amounts include oer reclasiscations to conform to curentpevied combined AUM palayand presentation. (2) Parcantageraprsents CAGR ovara five-year pviod (2011-2016),ASSETS UNDER MANAGEMENT ‘The Company's AUM by product type forthe years 2012 through 2016 is presented below. December 31 s-vear nme) 2016. 2015, 2014 2013 2012 CAGR Equity $2697.76 $2023772-$2461.111 $2,517.609 $1B5501 11% Fed income 1972966 1.402.368 1.30859 1,242,188 1.080.822 Mutt-asset 3059007 s7698 | 77.HGT Suz 28TH 12% Alternatives an6939 112820 11.240 tte 100705 Long-term a7s14e8 4.535518 4.393.041 4012,209 «3.482.968 9% Cash management 403s 200,084 206,369 785K 287A 10% Advisory 2782 10.213 21,701 36,325, 45479 (63)% Tota S5;47.052__$4.605,412 $4,661,005 $4,024,008 —$2,701808 8% (0) Percentage represents CAGR vera five-year period (2011-2016)INVESTMENT PERFORMANCE Investment performance across active and passive products 88 of December 31, 2016 was as follows: One-year Three-year Five-year erie period period Fixed income: ‘Actively managed products ‘above benchmark or ser ‘medion Taxable ex 78% 28% Taxcoxompt Bam 68% 13% Index products within or ‘above applicabletolerance 90% 90% 90% Equity: ‘Actively managed products ‘above benchmark or peer cin Fundamental “am eam 05% Seientte aK Am 91% Indexproducts within or ‘obove opplicabletoleronce 95% 87% 97%