The aggregate assets under management of Affiliated Managers Group's affiliated investment management firms were about $544 billion as of Dec. 31, up 7% from three months earlier and up 26% from the year before, the company said in its earnings statement released Tuesday.
The total AUM includes the firm's pending acquisition of SouthernSun Asset Management, which adds $13 billion in assets.
Not including the assets obtained through the SouthernSun investment, AMG's institutional AUM totaled $300.6 billion as of Dec. 31, a 5% increase from three months earlier and 18% above a year earlier. Mutual fund assets totaled $169.4 billion, up 9% from Sept. 30 and 39% higher than a year earlier.
Net client cash inflows for the fourth quarter of 2013 were $5.5 billion, compared to net inflows of $10.1 billion for the third quarter. Net inflows for the fourth quarter of 2012 were $5.1 billion.
AMG reported “economic net income,” which it defines as net income plus amortization, deferred taxes related to intangible assets and other affiliate-related expenses, of $202.9 million for the fourth quarter, up 67% from the third quarter and up 49% from the fourth quarter of 2012.
