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CHART CENTRAL

Asset managers lag broad market in a rough October

The average return among the publicly traded asset managers was -2.12% between the first earnings report — J.P. Morgan on Oct. 12 — through the end of the month. Over that period, the S&P 500 Asset Management and Custody Banks index fell 4.3%, and the broad market S&P 500 index fell 0.61%. The end-of-month returns overshadow the volatility for the last half of the month. The average return of the cohort was -5.9% between Oct. 12 and Oct. 24, with all but two of the stocks experiencing some degree of gains in the week after. Affiliated Managers Group and Och-Ziff and were the only two that continued to decline after Oct. 24; those managers reported their earnings on Oct. 29 and Nov. 2, respectively.

Among the alternative investment managers, the average return was -5% between Oct. 12 and Oct. 31, recovering from -7.23% at the Oct. 24 mark. Removing Och-Ziff, the average return for the two periods was -2.22% and -5.33%, respectively.