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

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

Rating:Faust's Bets Pay Off Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, May 22, 2013

Faust's Bets Pay Off

Reported by Tommy Fernandez

Sometimes, things just come together.

In the case of Eaton Vance, the Beantown asset manager reported adjusted net earnings of $66.02 million, or 52-cents per share, for the second quarter of 2013, up from $53.97 million, or 45-cents per share, from the same period last year. This met analyst consensus.

Meanwhile, revenues rose to $331.69 million compared to $304.77 million the same period last year -- slightly below analyst consensus of $335.51 million.

An important figure to note was that of net inflows of $6.6 billion in the second quarter of fiscal 2013, compared to net inflows of $0.6 billion in the second quarter of fiscal 2012 and $5.4 billion in the first quarter of fiscal 2013.

As a result, consolidated AUM were $260.3 billion on April 30, 2013, an increase of 32 percent over the $197.5 billion of managed assets on April 30, 2012 and an increase of 5 percent from the $247.8 billion of managed assets on January 31, 2013.

Eaton reported that the year-over-year AUM increase reflects the $34.8 billion of managed assets gained in the December 2012 acquisition of the former Clifton Investment Management Company by Eaton subsidiary Parametric Portfolio Associates LLC, and twelve-month net inflows of $12.7 billion and market price appreciation of $15.4 billion.

These solid figures reflect a number of factors, including some successful bets by chief executive Thomas Faust-- and fair equity winds.

For example, there was the aforementioned Clifton acquisition, rebranding of some funds, and the hiring of two consultant honchoes, and a new marketing chief.

The firm is also looking at a new kind of ETF. Meanwhile, Eaton is also embracing a "solutions" focus to marketing and is enjoying a market return to its equity sweet spot.

The healthy numbers generated healthy media attention, including write-ups by reporters at Reuters; MarketWatch; Nasdaq; Utah People's Post and Dividend.com

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

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2025: Q1
2024: Q4Q3Q2Q1
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 webinar - Enhancing the Advisor Experience, January 16
  2. MFDF webinar - AI and Fund Compliance, January 21
  3. MFDF In Focus - In Focus: Small Boards' Use of Skills Matrices, January 22
  4. IDC webinar - SEC Enforcement Trends: What Fund Directors Should Know, January 23
  5. ICI webinar - Legal and Compliance Career Opportunities in the Asset Management Industry, January 24
  6. FSI OneVoice 2025, Jan 27-29
  7. MFDF 2025 Directors' Institute, Jan 27-29
  8. Nicsa webinar - An Intro to Irish and Luxembourg Investment Platforms for US Asset Managers, January 29
  9. WE South - Dallas | Texas Stock Exchange, Politics, & Product Development, January 30
  10. 2025 ICI Innovate, Feb 3-5
  11. Nicsa webinar - AI In Operations: Boosting Productivity for Wealth & Asset Management Firms, February 5
  12. MFDF In Focus: Understanding Distribution - What the Data Can Tell You, February 6
  13. MFDF Director Discussion Series - Open Forum, February 10
  14. MFDF Director Discussion Series - Open Forum, February 11
  15. MMI Darden-in-Residence II, Feb 24-6
  16. 2025 MMI RIA Forum, February 27
  17. IDC Core Responsibilities of Fund Directors, February 27
  18. Citywire Scottsdale CIO Summit 2025, Feb 27-28
  19. Expect Miracles In Manhattan 2025, February 27
  20. T3 Technology Conference 2025, Mar 3-6
  21. IMEA Distribution Intelligence Summit, Mar 4-5
  22. Nicsa 2025 Strategic Leadership Forum, Mar 5-7
  23. Citywire Pro Buyer New York Due Diligence Retreat 2025, Mar 6-7
  24. MFDF 2025 Fund Governance & Regulatory Insights Conference, Mar 6-7
  25. MFDF 15(c) White Paper Webinar Series: Part 3 - Gartenberg Factors Analysis and Challenges, March 12
  26. ICI Investment Management Conference, Mar 16-19




©All rights reserved to InvestmentWires, Inc. 1997-2025
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use