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The information included in each Participatory Report in AKG's series of DFM Profile & Financial Strength Reports issued before September 2017 was structured as follows:
Index showing the list of companies covered, and the page number of each section in the report.
A broad overview of the background to the group of companies covered by the report.
A diagrammatic representation of the relationship between the key companies in the group.
A summary of all of the AKG ratings shown elsewhere in the report. This comprises a DFM Financial Strength Rating together with Supporting Star Ratings (i.e. Service, Image and Strategy and Annual Review) for the brand. A symbol is shown where a particular rating is not relevant, or not provided.
For each report, detailed analysis is provided in respect of the company which is the DFM provider within the group.
The ultimate owner of the company (or the majority owner if there is more than one owner). For UK registered companies, this information is disclosed in the company’s statutory accounts. For overseas owners, the country of domicile is also shown.
The year that the current corporate entity started operating, which is usually the year of incorporation.
The address and contact numbers of the Head Office (usually defined as the location of the company’s most senior management. Need not necessarily be the company’s registered office address.)
The URL of the brand's main website.
A short list of the senior individuals considered to be of most interest to readers, such as chief executive, business development director etc.
A broad overview of the general background of the company, including any significant historical changes such as predecessor companies, transfers/mergers, name changes etc.
A brief summary of the key factors that AKG feels are most pertinent to its assessment of the company’s DFM Financial Strength.
AKG’s assessment (on a scale of A, B+, B, B-, C, D) of the company’s DFM Financial Strength. See the ‘Guide to AKG Ratings’ for further details of the methodology used.
An overview of the proposition offered, including reference to key elements affecting corporate governance, and brief details of any other entities involved.
A table showing the make-up of shareholder funds in each of the last three accounting periods.
A table showing, if known, the available capital resources, capital resources requirement (CRR) and excess capital resources at the end of the last three accounting periods.
A table showing, if known, the available capital resources expressed as a percentage of the capital resources requirement at the end of the last three accounting periods.
A table analysing the company's profits in each of the last three accounting periods, showing, if known: turnover/revenue, expenses, profit/loss before tax, tax, profit/loss after tax, dividends, retained profit/loss and EBITDA.
A table analysing several key financial ratios in each of the last three accounting periods, where available: operating margin, pre-tax profit margin, EBITDA margin, interest cover, current ratio and gearing.
Total annual expenses expressed as a percentage of mean Assets under Management.
Explanatory comments from AKG in respect of the tables and any other relevant financial information.
A table showing the change in assets under management (AuM) in each of the last three accounting periods, together with the company's expense ratios (calculated as a percentage of mean AuM).
AKG's comments on the development of assets under management.
AKG’s overview of the business processes, controls and review functions related to the alignment of corporate strategy with risk appetite. Thus there is a focus on internal governance to ensure sound supervision and compliance in this respect with the objective of organisational stability and proposition maintenance.
AKG’s views on how the brand is perceived in the marketplace and the current strategy adopted.
AKG’s assessment (on a scale of 1 to 5 stars) of the brand’s current performance in the area of its image and strategy. See the ‘Guide to AKG Ratings’ for further details of the methodology used.
An overview of the methods by which the organisation distributes its products and service.
A summary of any significant relationships, specific or general, in connection with the distribution of business.
An overview of the organisation’s approach to servicing business under the brand name.
AKG’s assessment (on a scale of 1 to 5 stars) of the brand’s current performance in the area of customer service. See the ‘Guide to AKG Ratings’ for further details of the methodology used.
Details of any service-related awards. Performance and trends in industry-wide service awards are particularly relevant.
AKG's comments on how the brand has performed during the year under review, particularly relative to its peers.
AKG’s assessment (on a scale of 1 to 5 stars) of the brand’s performance, relative to others in the market, during the year under review. See the ‘Guide to AKG Ratings’ for further details of the methodology used.
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