Given this ongoing success, we are continuing to add resources to our distribution platform in key markets worldwide including the recent addition of senior level marketing personnel to cover Germany and Switzerland. Our affiliates are involved in a growing number of searches and finals across Europe, the Middle East, Australia and Asia and we see a broader array of opportunities to win new business in these markets.Our strong organic growth from net client cash flows has occurred in a period when industry flows have been concentrated in passive and fixed income products. While much of the rise of passive has come at the expensive active, to a large extent the growth of passive products also reflects a trend, where clients are separating their risk between beta and alpha portfolios and migrating away from equity products and the index hugging middle.
Affiliated Managers' CEO Discusses Q2 2012 Results - Earnings Call Transcript
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