Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from [Jonathan Carry] – JP Morgan
[Jonathan Carry] – JP Morgan
Jay can you talk a little bit about the inflows that you saw in the money manager as I understand from what your comments and talking to what [inaudible] as well. That as you saw inflows at most of your investment management affiliates and if you could just talk about what products they saw the inflows and what really drove that performance?
Timothy Vaill
Sure John. I would say that fundamentally we saw greater flows for our growth oriented strategies, and that includes the strategies of Westfield Capital, because you know John, Anchor Capital is our second largest investment manager as the majority of its business associated with the with what some call the SMA business.
But really those organizations that distribute packaged product to their retail base. And that was kind of a mixed quarter and it was a down quarter for the industry as a whole. So the fact that they held their own I think was very strong performance indeed. But fundamentally the short answer is it was principally the growth strategies at Westfield.
[Jonathan Carry] – JP Morgan
And are you able to tell us that that progress continued into this quarter are you able to comment at all?
Timothy Vaill
I’m not going to comment beyond the results ending September 30th.
[Jonathan Carry] – JP Morgan
And then separately on credit can you talk a little bit about the decline in the 30 to 89 day delinquencies and what you’re seeing there in terms of your watch list and early stage delinquency trends in your, you know, specifically in the Florida markets for example and then as well as your other markets?
Timothy Vaill
Sure John thank you for your question. We are very attentive to past dues and our credit portfolios. There’s been heightened and enhanced attention directed at all credit issues in 2008. And our past dues quarter-over-quarter were down about $5 million or $6 million. The southern Florida past dues were manageable at the end of the second quarter and only increased slightly in the third quarter. The total past dues from 30 to 89 days in South Florida are about $4 million. On the total portfolio that's over $1 billion.
[Jonathan Carry] – JP Morgan
And then separately, in terms of the actual – that type of stabilization that you're seeing in Florida, and I know you had to characterize it as that in certain markets in Florida – can you just talk about what you're seeing in terms of the actual stabilization? Is it by certain type of loan type or certain parts of Florida? Can you just give us a little bit more granularity there?
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