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 |
|
Wednesday, October 26, 2005 AMG Meets Earnings Estimates Boston, Massachusetts-based Affiliated Managers Group (AMG) earned $28.5 million in the third quarter, or $1.18 in cash earnings per share, matching analysts' expectations. Diluted earnings per share were $0.67. Total assets under management were $175.3 billion at the end of the third quarter, up 27 percent from the second quarter. AMG's acquisition of six Canadian asset management firms in July of 2006 contributed to $24.9 billion in asset gains. Net inflows contributed $1.2 billion, market appreciation added $12.3 billion, and the sale of First Quadrant reduced assets by $1.1 billion. In the mutual fund channel, assets under management totaled $49.1 billion, up 18 percent from the previous quarter. Net client cash flows contributed $788 million, new investments added $3.7 billion and market appreciation added $3.2 billion. Assets in the institutional channel made up $100 billion, or 57 of total assets under management. Institutional assets increased 27 percent from the quarter before. High-net worth assets totaled $26.3 billion, up 50 percent from the period ending June 30, 2005. Printed from: MFWire.com/story.asp?s=10722 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |