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 21, 2005 Gabelli Beats the Street GAMCO Investors, Inc., the advisor to the Gabelli funds, reported net income for the third quarter of $19.4 million, or $0.64 per diluted share, far above analysts' expectations of $0.50 per share. Gabelli's year-ago net income was $13.0 million, or $0.43 per diluted share. Total assets under management were $27.6 billion at the end of the third quarter, up 1.4 percent from the same period last year, but unchanged from the quarter before. Mutual fund assets totaled $13.6 billion, up two percent from the quarter before and up 6.4 percent from the same period last year. Both equity and fixed income funds experience net outflows, but equities gained due to $540 million in market appreciation. Institutional, high-net worth and separate account assets dropped from $13.5 billion in the second quarter to $13.3 billion in the third quarter. Compared to the year-ago period, institutional, HNW and separate account assets fell two percent. Printed from: MFWire.com/story.asp?s=10703 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |