AMG assets dip 1.2% for quarter

Affiliated Managers Group reported $101 billion in affiliate assets under management as of Sept. 30, a 1.2% decline from the previous quarter. Nate Dalton, executive vice president in charge of affiliate development, attributed the bulk of that decline to institutional and high-net-worth clients leaving affiliate Rorer Asset Management because of continued weak performance of its large-cap equity portfolio. Separately, Sean M. Healey, AMG president, will also take over CEO duties from AMG founder William J. Nutt on Jan. 1. Mr. Nutt said he would remain chairman.