BNP Paribas Investment Partners is the dedicated autonomous asset management business of the BNP Paribas Group. BNP Paribas Investment Partners offers the full range of investment management services to both institutional and retail clients around the world. Central to the way we work is the concept of partnership – both in terms of how we behave as a family of companies and our relationships with our clients. Over 800 investment professionals work across our network of some 60 investment centres, each specialising in a particular asset class or type of product. With total assets under management of EUR 546 billion (USD 740 billion) as of 31 December 2010, BNP Paribas Investment Partners is the fifth-largest asset manager in Europe and the thirteenth-largest in the world [2].