Investor Presentaiton
Spread revenue continues to make a meaningful impact
10.00
Spread-based revenue is influenced significantly by interest rate changes
and the amount of cash held by investors at Asset Mark Trust Company (ATC)
9.00
8.00
7.00
10.0%
In 4Q22, we added $750m of new fixed rate term
contracts. As of December 31, 2022, -21% of cash
at ATC is in fixed rate term, with an average
maturity of 1.78 years and gross rate of 4.39%.
Maturing Contracts ($m)
as of Dec 31, 2022
50 bps
4.25%-4.50%
9.0%
75 bps
75 bps
3.00%-3.25%
75 bps
3.75%-4.00%
8.0%
75 bps
1.50%-1.75%
50 bps
0.75%-1.00% 5.9%
2.25%-2.50% 6.9%
5.7%
5.4%
5.4%
5.4%
7.0%
250
6.0%
5.4%
4.8%
5.0%
4.48
6.00
25 bps
0.25%-0.50%
5.00
4.4%
4.4%
4.1%
4.1%
4.2%
4.00
3.60
3.70
3.60
3.09
2.93
2.85
2.86
2.92
3.00
2.00
1.00
illl
Dec-21
Jan-22
Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
Aug-22
ICD Ending Cash (in $B)
HYC Ending Cash (in $B)
3.51
3.49
3.54
4.0%
3.27
3.0%
Sep-22
Oct-22
Nov-22
Cash as % of Assets in Custody at ATC
2.0%
250
250
2023
2024
2025
1.0%
Maturing
yield
4.25%
4.44%
4.48%
0.0%
Dec-22
Gross
Yield
(bps)
30
26
25
32
46
83
129
182
250
270
326
397
434
1 CME FedWatch Tool.
For general public use.
As a reminder, Asset Mark has the optionality
to increase the percentage of cash in fixed
rate term an additional 19% or $675m, based
on December 31, 2022, cash balances.
ASSETMARK. 17View entire presentation