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Rating:Fund Firm Stocks Tumble as the Markets Shake Not Rated 5.0 Email Routing List Email & Route  Print Print
Friday, August 05, 2011

Fund Firm Stocks Tumble as the Markets Shake

Reported by Neil Anderson, Managing Editor

The S&P 500 has dropped 10.83 percent since the beginning of last week, July 25. How are mutual fund firms, whose fees are largely asset-based, faring through the storm? We've compiled data on publicly-traded mutual fund firms and publicly-traded parents of mutual fund firms, as well as some broker-dealers and other firms related to the fund business (see chart below). All told, 40 of the 55 firms on the list are lagging the market.

Several mutual fund parents' stocks have suffered more than most in the past two weeks, doubling the S&P's losses. The stock of Unicredit Italiano (the Italian parent of Pioneer Investments), is down 19.35 percent, Value Line's down 21.01 percent, Macquarie Group (the Australian parent of Delaware) is down 22.65 percent and Financial Engines (an advice and managed accounts provider for 401(k) plans) is down 22.03 percent.

On the other end of the spectrum, very few firms in the fund business saw their stocks fall much less than the S&P. Hennessy Advisors and Gamco stood out from the pack; the former's stock stayed flat and the latter's stock only fell 2.03 percent. Independent broker-dealer titan LPL's shares only dipped 5.36 percent, Power Financial (the Canadian parent of Putnam) only slipped 5.82 percent, FBR Capital Markets dropped 6.14 percent.

Meanwhile, three funds firms -- Artisan Partners, Manning & Napier and Oaktree Capital Management -- have all recently filed to go public. Will the market cause any of them (or others pondering IPOs) to adjust their plans? MFWire.com could not immediately reach spokespeople for Artisan and Oaktree for comment for this story, and a Manning spokesperson was not immediately able to comment.
Publicly-Traded Fund Firms, B-Ds and Others
Ticker Company (Fund Firm/B-D) Share Price 8/5/2011 Percentage Change Since 7/25/2011
AB AllianceBernstein 15.74 -15.41
AMG Affiliated Managers Group 90.36 -12.9
AMP Ameriprise Financial (Columbia) 47.28 -14.81
ART Artio Global Investors 9.22 -13.44
ASX: MQG Macquarie Group (Delaware) 23.25 -22.65
AZSEY Allianz SE (Pimco) 11.45 -14.74
BEN Franklin Resources (Franklin Templeton) 117.67 -11.87
BK Bank of New York Mellon (Dreyfus) 22.85 -11.41
BLK BlackRock 161.69 -14.02
CNS Cohen & Steers 34.8 -14.18
COWN Cowen Group (Ramius) 3.77 -10.45
CS Credit Suisse 31.58 -16.06
DB Deutsche Bank (DWS) 48.2 -13.03
DHIL Diamond Hill Investment Group 74.74 -9.78
DST DST Systems, Inc. 47.89 -14.63
ENV Envestnet 12.88 -9.3
EV Eaton Vance 23.29 -18.08
FBRC FBR Capital Markets 2.75 -6.14
FII Federated Investors 19.53 -11.95
FNGN Financial Engines 19.57 -22.03
GBL GAMCO 48.71 -2.03
GE GE 16.51 -13.29
GROW U.S. Global Investors 7 -14.95
GS Goldman Sachs 125.18 -7.61
HNNA Hennessy Advisors 3 0
IVZ Invesco 19.56 -13.87
JEF Jefferies Group 17.19 -15.82
JNS Janus Capital Group 7.35 -19.32
JPM JPMorgan Chase 37.6 10.88
LAZ Lazard Freres 29.47 -19.48
LM Legg Mason 27.02 -16.68
LON:OML Old Mutual 112.09 -14.95
LON:SDR Schroders 1532.55 -9.07
LPLA LPL Financial 31.43 -5.36
MFC ManuLife (John Hancock) 13.98 -16.79
MORN Morningstar 55.71 -10.56
MS Morgan Stanley (Morgan Stanley Smith Barney) 20.02 -16.23
NTRS Northern Trust 41.3 -10.06
PFG Principal Financial Group 25.33 -12.63
PWF Power Financial (Putnam) 27.19 -5.82
RJF Raymond James 28.62 -16.12
SCHW Charles Schwab 13.66 -11.53
SEIC SEI 17.76 -13.45
STT State Street 38.74 -9.1
TROW T. Rowe Price 51.51 -14.61
UBS UBS 14.68 -16.16
BIT:UCG Unicredit Italiano (Pioneer) 1.06 -19.35
UMBF UMB Financial (Scout) 38.89 -10.95
VALU Value Line Securities 10.3 -21.01
VRTS Virtus Investment Partners 67.42 -13.87
WDR Waddell & Reed (Ivy) 31.71 -16.88
WFC Wells Fargo 25.21 -13.49
WHG Westwood Holdings Group 35.56 -11.52
WPSL W.P. Stewart & Co 7 -0.14
WSDT WisdomTree 7.04 -10.2
Source: Google Finance
 

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