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, May 1, 2002 Villanova Boosts Profits Nationwide Financial saw first quarter revenues in its asset management group jump 17 percent to $35.4 million in the first quarter. The results primarily reflect operations of the insurer's Villanova Capital group. The increase in revenues pushed profits in the unit to $6.4 million from $1.4 million in the first quarter of 2001. Revenues grew both due to a rise in assets under management and one time event. Assets under management in the group rose to $25.8 billion, an increase of seven percent from a year ago. The firm reported net flows of $1 billion, including $600 million from a new, unidentified stable value client. The firm said that the higher profits were also the result of "aggressive expense management". Printed from: MFWire.com/story.asp?s=2454 Copyright 2002, InvestmentWires, Inc. All Rights Reserved |