Thursday, 28 May 2015
Last updated 4 hours ago
May 2 2012 | 2:58am ET
Despite its stable of prominent hedge funds and continued inflows, Affiliated Managers Group said that its first quarter profit fell year-on-year.
The Prides Crossing, Mass.-based firm, which invests in asset managers and owns stakes in AQR Capital Management, BlueMountain Capital Management, ValueAct Capital and Value Partners Group, among others, said its quarterly profit fell 4.4% to $37.4 million. The result was less than half analysts' expectations.
AMG's revenue fell 2% to $417.7 million, even as its portfolio firms' assets under management grew by nearly $40 billion since the end of last year, with net inflows of $7.08 billion.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by partcipating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…