Affiliated Managers Group reported $25.5 million in net income for 1998. Net income for the quarter ended Dec. 31 was $9.3 million, compared with net income of $5.9 million in the third quarter and a loss of $9.2 million in fourth quarter 1997. AMG reported a net loss of $8.4 million for 1997.
Through revenue-sharing agreements, affiliates contributed $26.4 million total to the holding company for fourth quarter 1998, compared with $14.4 million in fourth quarter 1997. Affiliate contributions for 1998 totaled $83.9 million, compared with $53.4 million for 1997. AMG made controlling investments in three asset management firms in 1998; it now has 13 affiliates with a combined total of $62 billion under management as of Jan. 6.