MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, October 26, 2012 Fund Firm Q3 Earnings Reports Flow In Third quarter earnings are pouring in from mutual fund firms this week. The Wall Street Journal took note of yesterday's mutual fund family earnings reports: Franklin Resources and Janus. Franklin's earnings beat the analysts' expectations, and the company's profit rose 18 percent. AUM stands at $749.9 billion, up $90 billion from a year earlier. Janus' profits were down on $2 billion of net outflows. The firm's $209 million in total revenue beat the WSJ's analysts' expectations. The Associated Press reported that in Q3, Federated's revenue increased 11 percent, to $238.5 million, on a decrease in money fund fee-waivers and improvement in money fund returns. AUM increased 3.5 percent from a year earlier, reaching $364.1 billion. Legg Mason enjoyed its first quarter of positive net flows since 2007, and its profit "soared" 42 percent, Reuters reported. Despite $5.7 billion of equity outflows and $3.8 billion of bond fund outflows, LM had a net positive flow of $200 million thanks to $9.7 billion that came into the firm's money market funds. Total AUM is $650.7 billion, up nearly $20 billion from the quarter before. IndexUniverse reports that WisdomTree Investments third-quarter net income nearly tripled from a year earlier, and the firm earned $4.5 million in profit, compared to $1.4 million a year ago. Net inflows neared $1 billion for the New York-based ETF provider. Printed from: MFWire.com/story.asp?s=41804 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |