MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, November 4, 2009 Virtus Posts Higher Operating Income Virtus Investment Partners, which was spun off from The Phoenix Companies at the end of last year, reported operating income of $3.2 million in the third quarter, up from $2.2 million in the third quarter of 2008. Ending AUM rose to $24.6 billion from $22.4 billion in the second quarter, but year-over-year AUM fell from $27.0 billion. The firm, which runs a multi-manager asset management business, saw positive net flows of $287.4 million, compared with negative net flows of $639.7 million in the year-ago quarter and positive net flows of $42.5 million in the second quarter. Adjusted revenue, $22.9 billion, fell 20 percent from Q3 2008. Printed from: MFWire.com/story.asp?s=23143 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |