FreningsSparbanken

1
Capital market day Stockholm, Sweden November 30,
2001
FöreningsSparbanken Anders Ek Group EVP, Head of
business area Savings, CEO of Robur
2
A leading provider of savings solutions
3
2001 a difficult year

• Weakening economies
• Falling equity prices
• Terror attacks of September 11
• Intense work for seven months on a subsequently
  aborted merger

4
Unclear directions, but
- Cat, could you please tell me which way I
should take from here? - That depends, said the
Cat, a great deal on where you want to get. -
Oh, I dont know, said Alice. - Then, said the
Cat, it doesnt matter which way you take.
unlike Alice, we know where to go!
5
Our achievements

• Solid position in spite of weak markets as
  evidenced by our improving market shares
• Full offer of savings products
• Investment process structured and GIPS
  certification achieved during 2001
• Improved performance and increased mutual funds
  ratings (from average 2.5 to 3.5) during 2001
• Financially strong with ROE of 28 and costs to
  revenue ratio of 0.47 (Q301)
• Reliability image expressed by customers (top
  grade (3.3) in SIFO survey commissioned by SPP)

6
The Swedish savings market 2001

• Impacts of weakening economies globally, in
  Europe and in Sweden
• Effects of September 11 terror attacks
• Falling equity prices
• Significant shift from equities to bonds and
  deposits

7
Our market position Mutual Funds
Fund savings - netflow(GSEK)
rolling 12 months (incl. PPM)
8
Our market position - Insurance
New volumes unit-linked insuranceOctober 2000 -
September 2001
Robur Försäkring
Danica
Others
20.3
3.0
0.7
Folksam Fond/LO
2.9
LF/WASA Fond
5.0
Nordea
9.3
Skandia Link
26.0
SHB Fond
SEB Trygg Liv
13.9
18.9
9
Our market position - Deposits
10
Our value propositions

11
Our Retail offering

• Mutual funds a range of 80 with average rating
  3.5 (based on ratings from different providers)
• Insurance and pensions products IPS, PPM,
  Unit-linked life insurance
• Deposits active pricing policy
• Third party products 24 funds from five
  international and two Nordic investment managers

12
Our offer to HNWI

• A pilot concept is in the process of being
  developed and will be launched during 2002
• Full range of services in Sweden and in
  Luxembourg
• Close cooperation with Retail network and with
  Alliance Partners

13
Our offer to companies/SMEs

• Occupational Pensions as of 2002 covering a
  range of products and administration, partly
  provided in-house, partly externally
• Sick Insurance as of 2002 covering both sick pay,
  hospital treatment and accident
• Close cooperation with Retail network

14
Our offer to institutional investors

• Discretionary asset management based on Roburs
  mutual funds (and third party products)
• Non-discretionary assignments based on an agreed
  asset allocation, discretionary within asset
  classes
• Benefit of Roburs GIPS certified Investment
  Process
• Fully customized services with segregated
  accounts and a dedicated sales force

15
The Swedish Savings market2002

• Still weak world economy and Swedish
• Effects of possible new terror attacks/campaigns
  against terrorism?
• Recovering equity prices!?
• Equities should regain territory, but with bonds
  and deposits still in the lead
• Growth principally from pensions market, deposits
  and mutual funds likely to be flat

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Business area Savings in 2002

• Improve our sales and expand/safeguard market
  shares through deepened mutual efforts with
  Retail/local banks and the independet savings
  banks
• Develop our offers to customers within all areas
  deposits, mutual funds and insurance
• Improve our operational efficiency
• Best growth potential in pensions markets

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Growth in 2002 - pensions
Occup
pensions
Annual
premiums
ITPK
(SAF
-
PTK)
exposed
/
competition
ca 3,5 GSEK
ca 22
-
23 GSEK
Occup
pensions
Alt ITP 5 GSEK
(
protected
)
Collect
pensions
ca 13 GSEK
SAF
-
LO
SPP 10, AMF
cos
2
ca 6 GSEK
SWEDISH
Accounts
(FPG/PRI)
PENSIONS
ca 3,5 GSEK
PPM
MARKET
15 GSEK1 GSEK p a
Pension funds
(2005 20 GSEK)
gt100 GSEK
and
foundations
ca 3 GSEK
Private
pensions savings
Government
ca 15 GSEK
Municipalities
Municipalities
(SPV/FSO)
Insurance
11, IP 4
(KPA
cos
)
ca 8 GSEK
PFA 98
individual
ca 5
-
6 GSEK
ca 6
-
7 GSEK
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Roburs focus on growth in 2002
Roburs
market
shares
20 in orig
mgr selection
Occup
pensions
PPM
lt1 in total
exposed
/
competition
15 GSEK 1 GSEK
per
annum
ca 22
-
23 GSEK
45 of IPS
15 in total
Private
ITPK
(SAF
-
PTK)
pensions savings
ca 3,5 GSEK
3 in total
ca 15 GSEK
10 of
active selection
Municipalities
7 in total
Collective
pensions
PFA 98
individual
SAF
-
LO
ca 6
-
7 GSEK
13 of
active
selection
ca 6 GSEK
8 in total
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Priorities during 2002

• Increased sales through existing channels e.g.
  assisted by certified advisors at local banks
• Improve mutual funds ratings further
• Focus on profitability
• New volumes from new market segments
  Occupational Pensions and HNWI
• New products/value propositions

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anders.ek_at_robur.se