Monday, 20 October 2014
Last updated 8 hours ago
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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...