After a tumultuous year for the markets, FBR's [profile] mutual fund business still came out ahead. Yesterday the Arlington, Virginia-based investment revealed in its fourth quarter earnings report that its mutual fund assets under management rose 6.3 percent in 2011 to $1.7 billion on December 31.

FBR's mutual fund revenue also rose, by 5.7 percent, to $14.9 million. That works out to about 88 basis points in revenue for the mutual fund firm. 

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