Outflows Increase But AMG Remains in the Black
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Wednesday, April 29, 2009

Outflows Increase But AMG Remains in the Black

Outflows from Affiliated Managers Group increased last quarter. On Wednesday the Boston-based acquirer of asset managers revealed in its Q1 2009 earnings report that it suffered $4.4 billion in net outflows, up from $3.29 billion in Q4 2008 (see MFWire, 1/29/2009).

AMG's total AUM fell more than 10 percent from $170.14 billion on December 31, 2008 to $152.91 billion on March 31, 2009 -- its mutual fund AUM also fell nearly 12 percent from $34.70 billion to $30.62 billion.

Yet AMG's quarterly net income stayed in the black, dropping year-over-year from $31.2 million to $6.1 million.

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