Gabelli Asset Management's assets under management rose 4% to $28.7 billion as of Dec. 31, according to a press release from the firm. The firm's institutional and high-net-worth business accounted for $13.6 billion of that total, up 4.3% from the previous year, while its mutual fund business had a record $12.4 billion in AUM, up 6.5%.
The firm reported net income of $62.6 million for the year, up 26% from 2003.
