Several money managers reported third-quarter assets under management.
• AMVESCAP reported $440.6 billion, up 6.5% from the prior quarter and up 16% from the year before, said spokesman Bill Hensel. For the latest quarter, $700 million in net outflows from long-term equity and fixed-income strategies were more than offset by $13.4 billion in market appreciation, $6.3 billion from the firm's acquisition of PowerShares Capital Management and $4.6 billion in money market inflows. For the latest quarter, AMVESCAP's pretax profit came to $150.5 million, down 18% from the previous quarter but up 26% from the year before.
• T. Rowe Price Group reported record AUM of $308.1 billion, up 4.8% from the prior quarter and up 20% from the year before. For the latest quarter, the firm reported net inflows of $4.2 billion and market appreciation of $10.2 billion. Net mutual fund inflows came to $1.6 billion, which, combined with $6 billion in market appreciation, leaves the firm with mutual fund assets of $190.8 billion. T. Rowe Price reported continued strong demand for its target-date retirement funds, with AUM of $13.5 billion as of Sept. 30, up $1.9 billion from the prior quarter and up $7.1 billion from the year before. Institutional AUM rose to $6.8 billion, with inflows of $2.6 billion and market appreciation of $4.2 billion. The firm reported net income of $128 million for the quarter, down 5.9% from the prior quarter but up 10% from the year before.
• Affiliated Managers Group reported $210.7 billion, up 4.2% from the prior quarter and up 20% from the year before. For the quarter, institutional inflows of $5.21 billion, combined with $41 million in high-net-worth inflows, offset mutual fund outflows of $1.1 billion, leaving the holding company with $4.16 billion in net inflows. AMG's institutional AUM were $128.9 billion as of Sept. 30, more than twice its $54.4 billion in mutual fund assets. However, the holding company's mutual fund revenues of $124.1 million for the quarter still exceeded its institutional fees of $117.8 million. For the latest quarter, net income came to $33.1 million, down 2.4% from the prior quarter but up 16% from the year before.
• Calamos Investments reported $44.8 billion, a 2.1% decrease from the end of the second quarter. Calamos attributed the decrease to $1 billion in net redemptions during the quarter. For the year, assets increased by 6%, largely due to $1.6 billion in net purchases and $1 billion in net market appreciation. Overall, the company reported $118.5 million in revenues for the third quarter, a decrease of roughly 5% from the second quarter but a 10% increase from the same quarter last year. The one-year change was driven by an increase in investment management fees as well as distribution and underwriting fees.