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Tuesday, April 27, 2010|
AMG's Mutual Funds Provide 31 Percent of EBITDA
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.
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