Affiliated Managers Doubles Profit In Q1

Apr 29 2011 | 1:07pm ET

A firm which owns stakes in several high-profile hedge funds began 2011 the same way it ended 2010—by doubling its quarterly profit.

For the second straight quarter, Affiliated Managers Group said its profit more than doubled as it reaps the benefits both of its acquisitions last year and increase inflows. The firm said it earned $39.1 million during the first three months of this year, up from $17.5 million in the year-earlier period.

Revenue rose almost 70% to $426.3 million, of which cash net income increased 68% to $85.1 million. The Prides Crossing, Mass.-based firm said assets under management rose nearly $20 billion to $339.8 billion during the quarter, thanks in part to net inflows of $6.5 billion.

CEO Sean Healey said that the results show AMG's "strategy is clearly working."

AMG invests in asset management companies, and owns stakes in hedge funds AQR Capital Management, BlueMountain Capital Management, ValueAct Capital and Value Partners Group.


In Depth

High Time For A Cannabis Hedge Fund?

Sep 30 2014 | 7:07am ET

Launching a hedge fund is always a gamble, but Leslie Bocskor's decision to launch...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.