Institutional Clients

In order to outperform, we must uncover value in companies not yet recognized by the market; value is added by acting on unique insights and our typically more positive earnings expectations in 6 to 18 months time. Consensus is already priced into stocks.

RCM employs a disciplined, globally integrated investment strategy that uses active, bottom-up stock selection methods to uncover high-quality growth companies in which to invest. These methods are complemented by top-down macro-economic and thematic analysis of market and sector trends. What drives it all are our in-depth fundamental and Grassroots^SM Research.

RCM San Francisco Client Base*

Managing Assets of $18.4 billion

The chart to the right depicts our client base as a percentage of total assets under management.**

**RCM is a global investment organization consisting of separate affiliated entities, owned by Allianz SE, that are located in key financial centers including San Francisco, London, Frankfurt, Hong Kong, Sydney, and Tokyo. As of March 31, 2008, RCM advised or managed approximately $156 billion.

Grassroots^SM Research is a division of RCM. Research data used to generate Grassroots^SM Research recommendations is received from reporters and field force investigators who work as independent contractors for broker-dealers. Those broker-dealers supply research to RCM and certain of its affiliates that is paid for by commissions generated by orders executed on behalf of RCM's clients.

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