Diamond Hill Group Inc. said Monday assets under management reached $2.18 billion at the end of the first quarter, up 221 percent from $679 million a year ago.

The Columbus, Ohio-based firm said investment management revenue for the quarter surged 312 percent to $4.9 million. Net income jumped 215 percent to $125 million from $397,000 a year earlier.

Ric Dillon, president and chief investment officer, said marketing efforts yielded $582 million in new client investments in the first quarter of 2006, representing a 338-percent rise from $133 million in the previous year.  

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