F&C Asset Management plc (F&C) is principally engaged in the business of asset management. F&C is an active international investor but with a client focus on the United Kingdom and Continental Europe. As of December 31, 2008, the Company had £98.6 billion of assets under management. As of December 31, 2008, the assets under management by client category included insurance funds, institutional funds, sub-advisory, investment trusts, United Kingdom retail (mutual funds), and international wholesale (mutual funds). The Company’s clients comprise a range of insurance, institutional and retail investors, across multiple jurisdictions, for whom it manages a diverse range of investments including equities, fixed income and property. In July 2009, Friends Provident plc completed the demerger of its interest in the Company.