On a GAAP basis, net income attributable to the controlling and noncontrolling interests for the six-months ended June 30, 2012 was $43.9 million, compared with net income attributable to the controlling and noncontrolling interests of $43.5 million in 2011. GAAP net income attributable to the common shareholders for the six-months ended June 30, 2012 was $1.1 million, or $0.08 per basic and diluted share.Assets Under Management As of June 30, 2012, AUM was $42.4 billion, a decrease of 5% from the $44.7 billion reported as of March 31, 2012 and $44.6 billion as of June 30, 2011. As of June 30, 2012, the composition of the Company’s AUM was 56% in separate accounts and 44% in mutual funds and collective investment trusts, which is consistent with the AUM composition as of March 31, 2012 and June 30, 2011. Since March 31, 2012, AUM decreased by $2.4 billion, including decreases of 5% in both separate account AUM and in mutual fund and collective investment trust AUM. Of the $2.4 billion decrease in AUM from March 31, 2012 to June 30, 2012, 92%, or $2.2 billion, of the decrease came from market depreciation during the period. The remaining 8% of the decrease was driven by net client outflows of $0.2 billion. The net client outflows during the quarter consisted of gross client inflows of $2.4 billion, offset by $2.6 billion of gross client outflows, primarily attributable to outflows in the Company’s separate accounts caused by withdrawals from existing client accounts. The annualized separate account cancellation rate was 5% during the six months ended June 30, 2012. When compared to June 30, 2011, AUM decreased by $2.3 billion from $44.6 billion, including a decrease of $1.4 billion, or 5%, in separate account AUM and a decrease of $0.9 billion, or 5%,in mutual fund and collective investment trust AUM.