Affiliated Managers Group reports that for the fourth quarter of 2011, Economic earnings per share were $1.76, compared to $2.02 for the same period of 2010, while diluted earnings per share for the fourth quarter of 2011 were $0.77, compared to $1.18 for the same period of 2010. For the fourth quarter of 2011, economic net income was $92.5 million, compared to $106.6 million for the same period of 2010. For the fourth quarter of 2011, net income was $40.3 million, compared to $62.0 million for the same period of 2010.
“Notwithstanding exceptional market volatility in 2011, AMG generated strong organic growth throughout the year,” stated Sean M. Healey, Chairman and CEO of AMG.
For the fourth quarter of 2011, revenue was $402.4 million, compared to $420.8 million for the same period of 2010. For the fourth quarter of 2011, EBITDA was $116.3 million, compared to $152.1 million for the same period of 2010.
For the year ended Dec.31, 2011, economic net income was $351.0 million, while EBITDA was $471.3 million. For the same period, net income was $164.9 million, on revenue of $1.7 billion. For the year ended Dec. 31, 2010, economic net income was $299.1 million, while EBITDA was $404.4 million. For the same period, net Income was $138.6 million, on revenue of $1.4 billion. Net client cash flows for the fourth quarter of 2011 were $4.1 billion, and flows for the year ended Dec. 31, 2011 were $23 billion.
“With seven consecutive quarters of strong positive net client flows, including $4.1 billion in the fourth quarter, we continue to win new business and market share through our global distribution strategy, which brings our Affiliates’ differentiated, value-added strategies to institutional clients around the world,” Healey added.
AMG Affiliates continued to generate alpha across a range of strategies in sought-after product areas such as emerging markets equity products at Genesis and Harding Loevner, and global equity strategies at Artemis and Tweedy, Browne.
“Finally, we continue to make strong progress in our new investments strategy,” Mr. Healey concluded.
