Apollo Global Management Mergers and Acquisitions Presentation Deck
Retirement Services Generates Leading Organic Growth
Annual Net Organic Flows (Athene)
= Net organic growth rate
Net Organic Flows² +$4.3bn
Gross Organic Inflows
Organic Inflows
Attrib. to ACRA NCI
Net Withdrawals¹
(including inorganic
run-off)
5%
$13.2
($8.9)
2018
6%
+$6.5bn
$18.1
($11.0)
2019
11%
+$14.4bn
$27.5
($11.9)
2020
Average % Annual Net Organic Growth (2018 – 2020) ³
3
(2%)
Traditional Asset
Managers 4
(1%)
Insurer Asset
Managers5
Incl. inorganic
inflows
3%
Fixed Annuity
Issuers
6
18%
7%
Athene
1 Net withdraw als consist of full and partial policyholder withdraw als, death benefits, pension risk transfer benefit payments and funding agreement maturities, net of the ACRA NCI. 2 Net organic flows are calculated as gross organic
inflows less organic inflows attributable to ACRA NCI and net withdraw als. 3 Net organic grow th rate is calculated as net organic flows divided by average net invested assets, on an annualized basis. 4 Trailing three year average of as-
reported net flows divided by average AUM for selected traditional asset managers (AMG, BEN, BLK, IVZ, FHI & TROW). 5 Trailing three year average of as-reported net flows divided by average AUM for selected asset
management units within insurers (AMP, PFG & VOYA). 6 Trailing three year average of as-reported net flows, or where not disclosed, net deposits less surrenders, withdraw als, deaths, etc. divided by average annuity assets for selected
fixed annuity issuers (AEL, FG & LNC).
APOLLO
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