Affiliated Managers Reports Lower Profits

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.


In Depth

Q&A: Omni Macro Fund Bullish On India, Watching China

Mar 4 2015 | 3:35pm ET

Omni Macro Fund was formed in 2007 by Stephen Rosen, previously a prop trader at...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Managing Diversification And Drawdowns In The “New Normal”

Mar 5 2015 | 2:42pm ET

In 2008-2009 diversification alone failed to provide adequate risk management for...

 

Editor's Note