Affiliated Managers Group’s AUM rises 8.3% to $508.4 billion

Affiliated Managers Group on Tuesday reported total assets under management of $508.4 billion at Sept. 30, up 8.3% from June 30 and up 22.2% from Sept. 30, 2012.

According to the company's quarterly earnings statement, AMG's institutional AUM reached $287.1 billion at the end of the third quarter, up 7.3% from the end of the second quarter and up 17.8% from a year earlier.

Meanwhile, mutual fund assets totaled $156.1 billion, up 9.3% in the quarter and up 32.4% in the year. High-net-worth assets were $65.2 billion, up 10% from the end of the previous quarter and up 19.6% from a year ago.

Net inflows for the quarter were $10.1 billion, compared to the record net inflows of $13.1 billion during the previous quarter and the net inflows of $10.9 billion from the third quarter of 2012.

Revenue for AMG was $551.6 million for the third quarter, up 2% from the second quarter and up 18% from the same period a year prior.

“Economic net income,” defined by AMG as net income plus amortization, deferred taxes related to intangible assets and other affiliate-related expenses, totaled $121.8 million, unchanged from the second quarter but up 20.4% from the third quarter of 2012.