Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Bad Day? Asset Managers Are Having a Bad Year. Not Rated 5.0 Email Routing List Email & Route  Print Print
Thursday, October 11, 2018

Bad Day? Asset Managers Are Having a Bad Year.

Reported by Neil Anderson, Managing Editor

Yesterday was a rough day for Mister Market, but it's been an even rougher year for asset managers.

As the S&P 500 fell 3.29 percent, the Dow 3.15 percent, and the Nasdaq 4.08 percent, 21 publicly traded asset managers suffered an average share price drop of 3.07 percent. Yet while the broader markets have still had a good year, despite yesterday's woes (the Dow is up 3.56 percent since December 29, i.e. the last trading day of 2017, the S&P 4.19 percent, and the Nasdaq 7.51 percent), for asset managers yesterday was just the icing on the bad news cake. Those 21 publicly traded asset managers have seen their shares drop 22.38 percent on average since December 29, even as industrywide mutual funds and ETFs have brought in $284.383 billion in estimated net inflows year-to-date (as of September 30).

The pain has not been evenly distributed. Hennessy's share price was flat yesterday, better than the rest of the pack, and Diamond Hill, Fiera, and Virtus each saw drops of less than one percent. On the flip side, shares in BlackRock, WisdomTree, T. Rowe Price, and U.S. Global Investors all dropped more than five percent yesterday.

Year-to-date, though, there is one bright spot: AllianceBernstein, whose shares have risen 16.85 percent since December 29. Virtus, T. Rowe, Fiera, and Waddell & Reed have suffered the least, seeing their stock prices slide less than ten percent this year. On the flip side, U.S. Global Investors, Invesco, WisdomTree, AMG, Janus Henderson, Federated, and Franklin Templeton have each seen their shares fall more than 30 percent this year.

Here's the full list, from smallest to biggest sufferers yesterday:

Hennessy, flat yesterday, down 15.66 percent YTD

Diamond Hill, down 0.19 percent yesterday, down 18.17 percent YTD

Fiera, down 0.41 percent yesterday, down 5.62 percent YTD

Virtus, down 0.77 percent yesterday, down 2.49 percent YTD

Artisan, down 1.37 percent yesterday, down 21.44 percent YTD

Gamco, down 1.95 percent yesterday, down 21.96 percent YTD

Legg Mason, down 1.95 percent yesterday, down 29.32 percent YTD

Federated, down 2.63 percent yesterday, down 34.26 percent YTD

AllianceBernstein, down 2.92 percent yesterday, down 16.85 percent YTD

Invesco, down 3.03 percent yesterday, down 42.15 percent YTD

AMG, down 3.06 percent yesterday, down 38 percent YTD

Franklin, down 3.17 percent yesterday, down 31.71 percent YTD

Waddell, down 3.2 percent yesterday, down 9.18 percent YTD

Janus, down 3.32 percent yesterday, 36.83 percent YTD

Cohen & Steers, down 3.41 percent yesterday, down 20.22 percent YTD

Manning & Napier, down 3.73 percent yesterday, down 21.11 percent YTD

Eaton Vance, down 4.71 percent yesterday, down 14.63 percent YTD

U.S. Global Investors, down 5.23 percent yesterday, down 62.82 percent YTD

T. Rowe, down 5.96 percent yesterday, down 3.22 percent YTD

WisdomTree, down 6.34 percent yesterday, down 41.12 percent YTD

BlackRock, down 7.17 percent yesterday, down 16.93 percent YTD. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

5.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. MMI Executive IQ - cohort 4, Jun 3-6
  2. 2024 MMI Board of Governors Retreat, Jun 3-5
  3. ICI webinar - Improving Fund Proxy Campaigns — Viewpoints from the Proxy Service Firm, June 4
  4. MFDF Conference of Fund Leaders Forum, June 5
  5. MFDF in-person outreach: Continuing Regulatory Impacts on Fund Boards, June 11
  6. WE Boston - Women In Wine, June 11
  7. IMEA Digital Marketing Roundable, June 12
  8. 2024 MMI Leadership Pathway Seminar, Jun 12-14
  9. 2024 Nicsa Fearless Leadership Symposium, June 12
  10. MFDF webinar - Digital Assets in the Fund Space (Part 1 of 2), June 12
  11. Expect Miracles East Coast Classic 2024, June 13
  12. WE South - Female Finance Connect, June 13
  13. IMEA webinar - Snapshot on the Talent Landscape, June 18
  14. 2024 MMI National Accounts Roundable, June 18
  15. MFDF webinar - Lessons Learned from the Regional Bank Volatility and the Impact on Registered Funds, June 18
  16. MFDF Director Discussion Series - Open Forum (Philadelphia), June 20
  17. New York YPEM Cornhole Classic, June 25
  18. Morningstar Investment Conference Conference 2024, Jun 26-27
  19. 2024 MMI Institutional Roundtable, June 26
  20. WE PNW Seattle - Pickleball and Networking, June 27
  21. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 16
  22. MFDF Director Discussion Series - Open Forum via Zoom, July 17
  23. MFDF Director Discussion Series - Open Forum (New York), July 23
  24. IMEA Portfolio Construction Roundtable, September 19
  25. MFDF Continuing Regulatory Impacts on Fund Boards program, October 15
  26. 2024 MMI Annual Conference, Oct 15-17




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use