Investors in mutual fund sponsors likely had a better day on Friday than the shareholders in the mutual funds themselves. While the stock market was flat, stock prices for publicly-traded asset managers rose mostly across the board.

The biggest gainers were Alliance Bernstein and Manning & Napier with gains of more than four percent. Other big gainers were Waddell & Reed, T. Rowe Price and Affiliated Managers Group, which each rose more than two percent.

Most of the 22 listed U.S. mutual fund shops have seen strong gains since the start of summer. Alliance Bernstein is up more than 18 percent over its 50-day moving average, for example. The majority of these stocks are trading at prices 5 to 10 percent higher than their 50-day moving average.

Exceptions are Cohen & Steers and Federated. Both of those firms have shares changing hands below that level.

NAME	SYMBOL	MKT CAP	% CHG
AllianceBernstein Holding L.P.	AB	1.64B	4.73%
Aberdeen Asset Management PLC	ADN.L	3.35B	2.29%
Affiliated Managers Group Inc.	AMG	6.54B	2.02%
Artio Global Investors Inc.	ART	184.04M	0.32%
Franklin Resources Inc.	BEN	27.12B	0.93%
The Bank of New York Mellon Corp	BK	27.81B	0.38%
BlackRock, Inc.	BLK	31.59B	0.46%
Calamos Asset Management Inc.	CLMS	237.79M	1.48%
Cohen & Steers Inc.	CNS	1.40B	1.81%
Eaton Vance Corp.	EV	3.32B	0.47%
Federated Investors, Inc.	FII	2.26B	0.09%
GAMCO Investors, Inc.	GBL	1.30B	0.79%
U.S. Global Investors, Inc.	GROW	90.26M	1.95%
Hennessy Advisors, Inc.	HNNA	17.33M	2.03%
Invesco Ltd.	IVZ	11.49B	0.62%
Janus Capital Group, Inc.	JNS	1.75B	1.74%
Legg Mason Inc.	LM	3.63B	1.02%
Manning & Napier, Inc.	MN	183.64M	4.48%
T. Rowe Price Group, Inc.	TROW	16.67B	2.15%
Virtus Investment Partners, Inc.	VRTS	720.54M	1.80%
WP Stewart & Co. Ltd.	WPSL	21.38M	12.22%
Waddell & Reed Financial Inc.	WDR	2.91B	2.92%
WisdomTree Investments, Inc.	WETF	823.53M	1.82%

Source: Yahoo Finance

 

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