Affiliated Managers Group reported total assets under management of about $594 billion as of March 31, up 9.2% from three months earlier and up 28% from a year earlier, the company said in its earning statement released Tuesday.
The $594 billion total AUM includes pending investments in Veritas Asset Management, EIG Global Energy Partners and River Road Asset Management.
The company's institutional AUM totaled $311 billion, a 3.5% increase from three months earlier and 15.8% above a year earlier. Mutual fund AUM totaled $175 billion, up 3.3% from the end of the prior quarter and 30% higher than the end of the first quarter 2013.
Net client cash flows inflows for the first quarter of 2014 were $7 billion, compared to net inflows of $5.5 billion for the fourth quarter of 2013. Net inflows for the first quarter of 2013 were $12 billion.
Revenue for the first quarter of 2014 was $593 million, relatively flat from the $594 million in the fourth quarter of 2013 and was 18.3% higher than the first quarter of 2013.
