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Thursday, August 05, 2010|
MFS Sees a 70 Percent Jump in Earnings
Rob Manning and his team at MFS Investment Management [see profile] posted earnings of $46 million in the second quarter, up 70.3 percent from $27 million during the year-ago period.
Company officials attributed the rise mainly to higher average net assets, which grew to $191 billion in the second quarter of 2010 from $140 billion in the second quarter of 2009. Executives pointed to "strong net sales and improved performance in financial markets."
MFS pulled in net sales of $3.7 billion, compared with $4.9 billion in the year-ago period.
The Boston-based asset manager ended June with AUM of $183 billion. That's down from $195 billion at the end of March and up from $147 billion at end-June 2009.
Printed from: MFWire.com/story.asp?s=33042
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