We have led our industry in repricing and redesigning products for the current interest rate environment which has us well positioned for sustainable growth. We're also pleased with the underlying growth of our businesses against our strategic priorities. In all 3 geographies, we generated sustainable growth of less risky, higher return new business. And as of December 31, 2011, we achieved a record $500 billion, that's $0.5 trillion in funds under management.This growth was driven in large part by the investments that we've been making in distribution and in branding. We significantly expanded our equity market and interest rate hedging programs in the first half of the year and mitigated most of the equity market and interest rate risks as financial markets became increasingly volatile in the second half of 2011. In fact, our hedging programs offset nearly $3 billion of potential market impact.
Manulife Financial's CEO Discusses Q4 2011 Results - Earnings Call Transcript
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