Our Asset Management Program provides investment management and advisory services to institutional clients, financial intermediaries, private clients, and investment vehicles around the world. Our goal in our Asset Management business is to produce superior risk-adjusted investment returns and provide investment solutions customized for our clients. As of November 2, 2009, total assets under management were $3 billion, managed on behalf of institutional (corporations, labor unions, public pension funds, insurance companies and banks; and through sub-advisory relationships, mutual fund sponsors, broker-dealers and registered advisors) and individual clients (principally family offices and high-net worth individuals).

Many of our equity investment strategies share an investment philosophy that centers on fundamental security selection with a focus on the trade-off between a company’s valuation and its financial productivity. As of November 2, 2009, total assets under management (“AUM”) were $3 billion, of which approximately 75% was invested in equities, 20% in fixed income, 4% in alternative investments and 1% in private equity funds. As of the same date, approximately 38% of our AUM was invested in international ( i.e. , non-U.S. and regional non-U.S.) investment strategies, 45% was invested in global investment strategies and 17% was invested in U.S. investment strategies, and our top ten clients accounted for 23% of our total AUM. Approximately 88% of our AUM as of that date was managed on behalf of institutional clients, including corporations, labor unions, public pension funds, insurance companies and banks, and through sub-advisory relationships, mutual fund sponsors, broker-dealers and registered advisors, and approximately 12% of our AUM as of November 2, 2009 was managed on behalf of individual client relationships, which are principally with family offices and high-net worth individuals.