Assets Under Management

 

Navigator Global Investments aims to achieve year-on-year growth in assets under management (‘AUM’).  AUM as at 1 July 2018 is USD 16.72 billion.

 

AUM growth has been driven by a combination of net inflows received from new and existing clients, as well as positive investment performance across the Lighthouse products.

12 months to 1 July 2018

  30 June 2017
AUM
Net flows Performance 1 July 2018
AUM (Estimate)
    Note 1 & 2 Note 3 & 4 Note 4
Commingled Funds USD 4.43 bn ↑ USD 1.69 bn ↑ USD 0.27 bn USD 6.39 bn
Customised Solutions USD 5.04 bn ↑ USD 5.05 bn ↑ USD 0.24 bn USD 10.33 bn
Total AUM USD 9.47 bn ↑ USD 6.74 bn ↑ USD 0.51 bn USD 16.72 bn

1. Net flows includes monies received by Lighthouse for applications effective 1 July 2018, and accordingly excludes monies received by Lighthouse which were effective 1 July 2017. This convention in relation to the reporting of net flows and AUM has been consistently applied by the NGI Group since January 2008.

2. The transaction to acquire approximately USD 5.39 billion of assets from Mesirow Advanced Strategies ('MAS') closed on 1 July 2018, and these assets have been included in Net flows for the June 2018 quarter based on estimated 30 June 2018 net asset values.  67% of the assets transitioned are Customised Solutions.  The Board believes based on the nature of the transaction, the MAS assets that have transitioned to Lighthouse may experience a higher level of investor redemption activity than Lighthouse has experienced over the past few years.  This should be taken into consideration when assessing the longer term impact on revenue from the transitioned assets.

3. Performance includes investment performance, market movements, the impacts of foreign exchange on non-US denominated AUM and distributions (if any).

3. 1 July 2018 AUM is estimated and is based on performance estimates which may be subject to revision near the 20th business day of the month and upon final audit.  AUM excludes a non-discretionary long-only managed account structured for a single investor.  AUM may include transfers from other Lighthouse Funds that occurred on the first day of the following month.

AUM Profile

As at 31 December 2017, AUM is comprised as follows: