MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, July 22, 2005 AUM, Earnings Tick Down at Gabelli Gabelli Asset Management reported second quarter earnings a few pennies shy of analysts' estimates. For the quarter ended June 30, Gabelli reported $13 million in net income, or 43 cents per diluted share. Assets under management totaled $27.6 billion at the end of the second quarter, dropping 1.5 percent from $28.0 billion the quarter before. Mutual fund assets, which made up 48 percent of total assets under management, dropped 1.7 percent to $13.3 billion from $13.6 billion the quarter before. Fixed-income mutual fund assets fell 26.2 percent, from $1.2 billion to $852 million. Closed-end funds gained 1.8 percent and open-ended funds dropped 0.1 percent. Quarter-over-quarter, equity mutual funds gained $212 million in market appreciation but experienced $140 million in net outflows. Equity mutual funds ended the quarter with $12.5 billion in assets under management. Printed from: MFWire.com/story.asp?s=10130 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |