Affiliated Managers Profit Up 81%

Jul 26 2011 | 12:56pm ET

Affiliated Managers Group, which owns stakes in several high-profile hedge funds, continued its strong run with an 81% jump in its second-quarter profit.

The Prides Crossing, Mass.-based firm doubled its quarterly profit both in the first and fourth quarters. It almost did so again, with profit soaring to $45.5 million from $25.2 million last quarter as revenue jumped 39% to $462.3 million.

Affiliated's total assets under management grew 2.5% in the second quarter to $348.4 billion on net inflows of $7.5 billion.

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

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

Analyzing The Digital Footprint: What Operational Data Can Tell You About Future Risk

Mar 30 2017 | 3:38pm ET

Advances in technology and increasing operational complexity in search of higher...

 

From the current issue of