Mutual funds now account for 39 percent of Affiliated Managers Group
's revenue and 31 percent of its EBITDA (earnings before interest, taxes, depreciation and amortization). The Boston-based asset manager acquirer revealed
those numbers this morning in its first quarter earnings report.
AMG's diluted earnings per share more than doubled, from $0.15 in Q1 2009 to $0.38 in Q1 2010, falling slightly short of analysts' estimates of $0.41, Reuters reports
. Yet AMG's non-diluted EPS of $1.14 met analysts' expectations.
AMG's mutual funds brought in $344 million in net inflows in Q1 2010, boosting its mutual fund AUM on March 31 to $60.511 billion.
Neil Anderson, Managing Editor
Stay ahead of the news ... Sign up for our email alerts now