Let's start with Slide 3 and discuss our progress across the strategic goals we laid out last year.As I've said many times, our success starts with our investment managers. As we'll discuss in more detail later in the presentation, performance remains strong in our team managers with 80% of marketed composite assets beating benchmarks for the critical 3-year period. Managers continue to win recognition from third parties for performance in a variety of categories. We will go into more detail in the next slide. In the institutional space, our affiliates continue to see demand in specialized areas such as, as investors search for returns. Western has branched out into the active ETF space to a sub-advisory arrangement. And in addition, Legg Mason has an application pending with the SEC to start our offerings in that segment.
Legg Mason's CEO Discusses Q4 2012 Results - Earnings Call Transcript
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