Affiliated Managers Group's
quarter-over-quarter assets under management were up just under two percent, from $129.8 billion at the end of December to $132.1 billion at the end of March.
The Boston-based firm of firms met analysts' expectations of diluted earnings per share of $1.12, or net income of $25.6 million.
Mutual fund assets under management skyrocketed 15 percent, from $29.9 billion to $34.3 billion at the end of March. Assets under management in AMG's other channels -- institutional and high net worth -- grew by 0.3 percent and decreased by 12 percent, respectively.
"Our results reflect the continued excellent investment performance and positive net client cash flows of our largest Affiliates, including Tweedy, Browne, Freiss Associates, Third Avenue and First Quadrant, as well as our expanded participation in high-growth, higher-margin areas such as international equities and alternative investments through outstanding firms such as Genesis and AQR," stated Sean Healey, president and chief executive officer of AMG.
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