We are seeing strong momentum in the East region, including Australia, the Middle East, Europe and Asia and given the ongoing success of our global strategy, we are continuing to invest in our distribution platform worldwide, with the addition of new personnel and incremental coverage regions.
Given our forward new business pipeline and the strong execution of our global distribution strategy, we continue to be confident in both our near and long-term organic growth prospects. We’ve generated strong organic growth from net client flows in a difficult period for return oriented products and we expect that we will see even greater growth as markets stabilize and institutional and retail investors, including especially the U.S. investors, increasingly return to risk oriented products. This trend will benefit our affiliates broadly and we expect continuing and even accelerating client demand for our global and emerging markets equity and alternative products.
Finally we are making significant progress in the new investments area. As we noted, our market position and opportunity set are outstanding and we’re having active discussions with traditional, alternative and wealth management prospects around the world, with prospective affiliates at all stages of the pipeline. While the timing and execution of transactions is inherently difficult to predict, we are confident that we will continue to materially enhance our earnings growth through accretive investments and new affiliates going forward.
Looking ahead, we are very well positioned across all aspects of our business. We have a fantastic group of performance-oriented affiliates, which are recognized as industry leaders in highly attractive product areas. We’re successfully executing our global distribution strategy and generating outstanding net client cash flows even in a volatile market environment. And finally our new investment opportunity is better than ever.
While there are ongoing concerns about the macro economic and political environment, we come into 2012, poised to build on our strong momentum and are feeling very optimistic of our business and forward prospects.
Let me now turn it over to Nate, who will discuss our affiliates results in greater detail.
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