Flash awards 2009
Natixis Asset Management widely recognized for its expertise
THINK POSITIVE.
THINK POSITIVE. U No. 1 French asset manager U No. 1 European asset manager
Grands Prix Le Monde Eurofonds - Fundclass 2009
Le Monde, one of France’s most prestigious newspapers, gives Natixis Asset Management its top rankings for consistent performance across its funds range over the past 4 years among asset managers offering more than 101 funds(1)
UÊBest Bond Group
Lipper Fund Awards 2009 (France)
Lipper gives Natixis Asset Management top ranking in the generalist category for the performance of its range of funds over 3 years(2)
U 1st prize Large Bond Group
La Tribune - Morningstar “Victoires des SICAV” Awards 2009
France’s leading business and financial newspaper, La Tribune, gives Natixis Asset Management top ranking for the performance of its range of funds in the large bond group category over 5 years(3) Natixis Asset Management has again been recognized for its consistent results over time. With % 277 billion in assets under management as of December 31, 2008 and around 600 employees based in Paris, Natixis Asset Management offers institutional investors, large companies, distributors and banking networks a wide range of products and investments issues across all asset classes.
European expert of Natixis Global Asset Management www.am.natixis.com
Past performance or reference to any rankings or awards cannot be interpreted as indicating the future performance of a fund. (1) Companies with funds rated by Fundclass for at least four years as of 12/31/2008, and with more than 101 funds registered for sale in Europe. (Source: Le Monde Argent of 03/08/2009). (2) Companies with funds registered for sale in France and rated by Lipper for at least three years as of 12/31/2008. (Source: Lipper Thomson Reuters). (3) Companies with funds rated by Morningstar for at least five years as of 06/30/2008, and with more than 15 bond funds registered for sale in France. (Source: Morningstar). Natixis Asset Management - Regulated by AMF under n°GP 90-009 - RCS Number 329 450 738 Paris
Grands Prix Le Monde Eurofonds-Fundclass No. 1 French asset manager and No. 1 European asset manager(1) In the 1 2009 awards Natixis Assetmanager Management was ranked first among French and European asset managers among U No. French asset asset managers offering more than 101 funds. Le Monde, one of France’s most prestigious newspapers, gives Natixis Asset U No. 1 European asset manager Management its top rankings for consistent performance across its funds range over the past 4 years.
Grands Prix Le Monde Eurofonds - Fundclass 2009
Le Monde, one of France’s most prestigious newspapers, gives Natixis Asset LipperitsFund Awards 2009 performance - Franceacross its funds range over the Management top rankings for consistent (2) pastBest 4 yearsBond among asset managers offering more than 101 funds(1) Group Lipper gives Natixis Asset Management top ranking in the generalist category for the performance of its range of funds over 3 years. In addition, two of its funds received Lipper certificates for their performance within their respective categories: Foncier Investissement (for its performance over 10 years in the “European equities - real estate” category for the second Lipper Fundyear) Awards 2009 (France) successive and Natixis Convergence (for its performance over 5 and 10 years in the “European bonds” category).
UÊBest Bond Group
Lipper gives Natixis Asset Management top ranking in the generalist category for the performance of its range of funds over 3 years(2)
La Tribune/Morningstar “Victoires des SICAV” Awards 2009 1st prize Large Bond Group(3)
st U 1France’s prize Bond Group leadingLarge business and financial newspaper, La Tribune, gives Natixis Asset Management top ranking for the
La performance Tribune - ofMorningstar “Victoires desgroup SICAV” Awards its range of funds in the large bond category over 52009 years .This year, Natixis Asset Management’s
France’s leading business financial newspaper, La Tribune, givesnetwork Natixishas Asset financial management of and funds marketed via the Caisses d’Epargne helped breed more success too: the Management top ranking for the performance of its range of funds in the large rd Caisses d’Epargne were ranked 3(3) in the “Specialised Bond Group”. bond group category over 5 years In all three cases, Natixis Asset Management received the award for its consistent performances over time. These awards are also testimony Natixis Management hasinagain been recognized forToitsmark consistent results over Asset time. Management has decided to place the to our abilityAsset to achieve results even difficult market conditions. the occasion, Natixis announcement above in the in main business and financial media. Given particularly bleak market and environment, With % 277 billion assets under management as oftheDecember 31, 2008 around this announcement attests to our600 optimism going forward. employees based in Paris, Natixis Asset Management offers institutional investors, large
companies, distributors and banking networks a wide range of products and investments issues In Winston Churchill’s famous words: across all asset classes.
“An optimist sees the opportunity in every difficulty." European expert of Natixis Global Asset Management www.am.natixis.com www.am.natixis.com
Flash awards (1) Grands Prix Le Monde Eurofonds-Fundclass
(2) Lipper Fund Awards - France
Methodology
Methodology
The APTimum methodology developed by Fundclass is designed to single out funds that outperform (compared with other similar-risk-profile funds) but, above all, to capture a fund's capacity to repeat the outperformance over the medium/long term.
The calculation currency is the currency of the country in which the awards are made (in this case, the euro for the France Lipper Fund Awards).
It essentially aims, therefore, to identify the capacity of certain funds to consistently generate 'relative' outperformance compared to other funds in the same category. De facto, the APTimum system penalises those funds which generate very good performances over one or two quarters but which are not capable of sustaining the performance over longer periods. Initially, Fundclass calculates - for each homogenous category - the quarterly performances of each fund corrected for any divergence from the average level of risk in the category. This allows the Agency to establish what it calls "a performance per unit of risk" or a risk/return profile for each fund. The Agency then calculates the relative decile position of each fund compared to the others and then calculates the average position in the deciles over the last 12 consecutive rankings, thereby capturing the relative rankings of funds. A score is then attributed according to the average decile: the lower the average decile, the better the score. Hence, the top score (5 stars) is attributed to funds that have managed to maintain their positions in the top quartile of the ranking over the last three years. Since the rating distinguishes regular performance rather than the best performance, fewer than 5% of the funds are rated five-star and several categories have no star. An exceptional performance at a given date will therefore not be sufficient for a fund to be well ranked by the APTimum methodology. Indeed, in the APTimum system, the funds that receive the best ratings are those that have managed to remain in the top quartile of their homogenous category despite changes in market conditions.
The calculation is based on monthly data. The average by categories is calculated on all eligible asset classes in that category. The calculation is extended over 36, 60 or 120 months. The highest value of the Lipper Leader for Consistent Return (consistent performance) in each category determines the classification of the award-winning funds over 3, 5 or 10 years. > For further information about the Lipper Leaders methodology, go to the www.lipperweb.com website. Categories -Lipper Fund “Funds” Awards: Companies presenting at least 5 equity funds, 5 bond funds or 3 diversified funds in each of these categories are eligible for the Lipper Fund “Funds” Awards. The Lipper Fund “Funds” Awards will be given to the best large and small group separately. -Lipper Fund “Range” Awards: Companies presenting at least 5 equity funds, 5 bond funds or 3 diversified funds are eligible for the Lipper Fund “Range” Awards. The Lipper Fund “Range” Awards will be given to the best large and small group separately
Categories
Investment universe
As a comparison between a major banking group (with several hundred rated funds) and a small boutique (with only a dozen or so) would be of little value, Fundclass divides management companies into 7 categories depending on size. The ranking is based on the proportion of the wellrated funds in each company's entire range (categories: 4 to 7 funds, 8 to 15 funds…, more than 100 funds). For each category, a ranking is compiled for Europe as a whole and for each of the member countries of the Eurofonds group: France, Luxemburg, Spain and Italy.
To take part in the Lipper Fund
Investment universe
• have a performance record extending for at least 36 months at 31/12/2008;
The Agency conducts an initial selection from approximately 70,000 investment products marketed in Europe. It eliminates all mirror products, funds that do not publish daily NAVs and recent funds with performance histories shorter than 2 years.
• be a UCITS and belong to one of the following asset classes: equities, bonds or diversified (excluding special cases and exceptions that you will find on:
Awards France, the funds must meet the following conditions. They must: • have marketing authorisation in France at 31/12/2008; • have marketing registration in at least three European Union countries or EFTA countries (Iceland, Liechtenstein, Norway, Switzerland) at 31/12/2008;
www.lipperweb.com/services/award_methodology.asp
After studying the statistical behaviour of the funds over a long period (12 quarters), Fundclass classifies the funds into 136 homogenous categories according to their risk profile. At the end of the process, Fundclass had rated 8,529 funds as at 31 December 2008. The management companies that regularly rank within the top quartile of their category obtain the highest rating: five stars. Each management company then receives a rating based on the stars attributed to the each product in its range over 4 years.
www.am.natixis.com
Flash awards (3) Victoires des SICAV-La Tribune/Morningstar
Categories
Methodology
• Asset-class "Group" Award: 5 trophies for 5 major product ranges The Asset-class "Group" Awards give recognition to institutions whose product range achieved the best risk-adjusted performances.
• Quantitative These Awards are designed to give recognition to funds and companies that have succeeded in achieving the best results within a coherent investment universe over one year and for longer periods. The ranking takes account of performance (80 % of the score) and risk (20 % of the score). Besides the fund yields, the Morningstar calculation also takes into account subscription fees and the fund's volatility. The Prices methodology emphasises the one-year period (with performance and risk over one year accounting for 48% of the final score), but the funds must also achieve good risk-adjusted performances over 3 and 5 years. Furthermore, their performance must position them in the upper half of their category for at least 3 of the last 5 years. Thus, the Awards are made to the funds that have not only achieved good results over one year but can also prove that they perform well over longer periods without undue risk. > For further information on the calculation methodology:
5 major trophies are awarded each year for the following categories: 1. Wide range – equities (companies with at least 20 equity funds) 2. Wide range – bonds (companies with at least 15 bond funds) 3. Specialised range – equities (companies with 5 to 19 equity funds) 4. Specialised range – bonds (companies with 3 to 14 bond funds) 5. Overall range (companies with at least 5 equity funds and 5 bond funds). Investment Universe Calculations for awards are performed within each national investment universe (Domestic SICAV and FCP funds and foreign funds registered for sale in France). Only funds recorded in the Morningstar database as available for sale on the local market are eligible for an Award. These funds must have a 5-year track record of Morningstar rating as at end June 2008.
http://www.morningstar.fr/awards/Awards.asp • Qualitative At the same time, the analysts conduct qualitative studies, and may eliminate an institution from the Awards where indicated. This may be the case, for example, if the institution loses managers, the costs increased size or the institution is taken over by another institution. Such exclusions are self-evidently infrequent, but they avoid making the Awards on the basis of performances that have little chance of being reproduced on account of structural factors.
The following are excluded from calculation: life-assurance funds and closed-end funds, and the following fund categories (Guaranteed funds; Protected Capital; Non-Euro Absolute Return; Euro Absolute Return; Money-market funds; Long-Short; 2000-2014 Horizon; 2015+ Horizon; Other ; Non-Euro Index-linked bond funds; Emerging Asia Equities (by country); Euro-Zone Equities (by country) ; Other Sector Equities ; Alternative Management funds).
Past performance or reference to any rankings or awards cannot be interpreted as indicating the future performance of a fund.
www.am.natixis.com