Affiliated Managers Group, which bets on boutique investment management firms today reported third quarter earnings of $101.2 million, compared to $82.1 million for the same period of 2011.

For the third quarter of 2012, the firm’s mutual fund revenue was $208 million, compared to $179 million for the same period of 2011.

The firm’s net client cash flows for the third quarter of 2012 were $10.9 billion and aggregate assets under management of AMG’s affiliated investment management firms were approximately $416 billion at September 30, 2012.

“With over $25 billion in net client cash flows in 2012 to date, including $11 billion in the third quarter, AMG continues to generate outstanding organic growth,” stated Sean Healey, AMG’s Chairman and chief executive officer.

“We were pleased to report economic earnings per share of $1.91 for the quarter, representing growth of 23% over the same period of 2011 and reflecting excellent execution across all aspects of our growth strategy, including the strong investment performance and organic growth of our extant affiliates as well as the addition of two new Affiliates, Yacktman and Veritable, and a significant incremental investment in BlueMountain.”

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