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How did we do?

Our customers are second only to our people as stakeholders in corporate governance.

Meaningful and relevant benchmarks by which to quantify our performance are therefore vital.

As part of our rigorous customer feedback programme, the Group carefully tracks, analyses and responds in a timely way to every expression of customer dissatisfaction.

The following tabulations and diagrams illustrate our performance by expressions of customer dissatisfaction.

Average expressions of customer dissatisfaction per month
  2007 2006
Man Investments 13.1 21.8
     
Total expressions of customer dissatisfaction for year
  2007 2006
Man Investments 157 262
     

Given the significant increase in reach and total employee numbers, we feel these figures show a very encouraging trend, particularly when contextualised with our ‘customer’ bases.

We set a very high benchmark in that we record ‘any expression of customer dissatisfaction’ no matter how minor. Each is recorded and submitted to senior management who review progress at regular Executive Committee meetings, as well as being reported to the Group Board’s Audit and Risk Committee.

Click chart to enlarge

  Total
‘customers’		 Expressions of
dissatisfaction 		%
2007 Man Investments 45,000 (excluding Australasia) 157 0.3
       

The year-on-year reduction in expressions of customer dissatisfaction in Man Investments is due to tightening up on the delivery of contract note documentation and other investor facing processes.

Man Investments also operates an ‘Amber/Red’ threshold, to ‘fast track’ appropriate cases to senior management. No such cases occurred this year.

Our redemption flow and the margin between sales and redemptions on our private investor business has been consistently low at around 9% compared with 10% last year. Institutional redemptions were in line with last year at around 15%.

Regulatory breaches and fines 2007

In terms of regulatory breaches and fines, the position this year was as follows:

Man Investments had no regulatory breaches leading to enforcement action by a regulator.

    Our progress this year
    Our progress in improving our compliance architecture and processes year-on-year is as follows:
  • Continued rollout of screen based anti-money laundering training
  • Refinement of compliance key risk indicators for risk reporting
  • MiFID project programme on track
  • Integration of global compliance reporting and oversight arrangements for new officers
  • Quantification of key risk indicators for the Financial Services Authority’s ‘Treating Customers Fairly’ initiative