“So we'll see PFOs continue to grow, but the bulk of our business remains AUM focused.”

In context

“Lyndon Oliver (President, Asia): Joel, it's Lyndon here. We are an AUM business focused primarily on the retirement space, so much of our business ends up in AUM components. As for PFOs, we also sell some FAS 60 type business, which has been a growing part of our operations. We're seeing some of that come through in the yen space, especially as the yen product starts to pick up; today it represents over 50% of our sales. Michel mentioned that earlier. So we'll see PFOs continue to grow, but the bulk of our business remains AUM focused. That is the key driver behind our growth.”