And the other indices for the European and the Asian one so successful collaboration because there’s a good alignment of interests. There was also a good element of trust that allowed us to carry on for all these years and we have expanded the Família of indices more recently. Professor Scheeler expanding in the range of indices to single stock. The first family of indices was on sectors and we have launched the indices on single stocks as well and more recently. And let’s not some those used to use that we have actually engaging in discussions and launched in years reversion of that indices. So I’d like to thank you all for attending today. We’ll try to make the session as interactive as it can be. So we have action by the way so that we carry on a discussion about the chef question. Raise your hand and we’ll pass to give you microphones. Thank you very much. Thank you. Thank you very much. My name is Zhang IBM the CEO of the Texas investment managers. I’ll kick this off briefly by giving away 30 second primer on ethics as investment managers and then moving on to introduce our guest these investment managers is a multi boutique affiliate asset manager. We are part of the BPC takes his group so that BBC is the second largest retail bank in France. Fourth what is less well known is that this is the fourth largest banking group in Europe by the size of its tier one ratio Mutual Group a provider of stability of financial strength.
Yet at the same time and I think these investment managers is not and if indeed that is a business and asset measurement business that is captive from the network in fact a substantial majority of the assets we manage are far third party true not clients of the networks nor the group itself and that provides us with I believe the ability to attract maintain and help flourish a number of affiliates around the world. We have about 850 30 billion euros of assets under management pretty much AFH in the U.S. and in Europe we have 25 different investment affiliates. Now that may sound a lot in one I assume leadership of this group. Last year it was difficult for me to decipher what was doing what. But today I could tell you that in respect of each if you look at I know what they stand for. I know all this that the distinctiveness they bring to the group and CME is no different. CME has been in the group for some time has developed quite well over the past few few years and it’s in part thanks to the cooperation we’ve had with Professor Schiller whom I’ll come back to in a second but is really distinct provide a distinctive approach to the investment strategies that our group brings to our clients.
And if I can can just expand on that the second and the fundamental tenet of the group is investment the autonomy of the investment affiliates and on top of which you find centralized distribution centralized scene money centralize money expertise centralized risk management and compliance that provides that that in our view really helps to help the management teams focus on what they do best which is roll out and develop and and new strategies new investment strategies deliver performance and enforce them that’s in a way that we believe is quite distinctive from other similarly situated ETF providers and the new products we are announcing years are in that same vein. If we talk about ESG it’s fair to say that it does it does really develop a momentum of its own over the past 12 to 18 months. When I joined the industry last year it was largely a talk in Europe. Increasingly we see that in Asia and in the United States. That being said this group stands for ears in many different ways for a number of years. We have a number of affiliates that are signatories to the UN EPRI a number of affiliates which have established is the policy that we embed in the investment process. Notably in this in this country are based in Paris. Two of our main affiliates are home and the field that’s best known for that strategy which is moreover which has a very sizable research group of this size comparable to the research group of BlackRock for instance which has substantially exponentially greater assets under management. So this is something we take seriously and the rollout of the product today is no. It’s no it’s no surprise shouldn’t be no surprise to you given how important it has been as a theme for us for sometime Steve. Now we respect investment autonomy of the of our affiliates so they sometimes overlap but by and large given they are quite distinctive they don’t really compete with each other. They may compete for the attention of our clients. They may compete for the attention of our distribution.
We think this is this is good emulation to ensure that we provide the best we can provide to our clients. Now today we have a we have distinguished guests that I’m happy to welcome. Perhaps from left to from extreme right to right Philip Coggan was a well known journalist financial journalist one of the best financial journalists and collaborates with my favorite publication in the world that I’ve been reading for the past 40 years. The Economist. Oh in this country and abroad it is very well known for his diverse views.
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