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 |
|
Thursday, February 2, 2012 Columbia's Net Outflows Climb Columbia Management's [profile] outflows are on the rise. Yesterday the mutual fund firm's parent, insurance brokerage Ameriprise, revealed in its fourth quarter earnings report that net outflows at Columbia rose 62 percent year-over-year to $8.4 billion in Q4 2011. Banking Business Review, Dow Jones, Localized USA, the Minneapolis Star Tribune, OnWallStreet, RTTNews, the Wall St. Cheat Sheet all reported on Minneapolis-based Ameriprise's Q4 earnings. Ameriprise blamed $6.7 billion of the $8.4 billion in net Columbia outflows on "previously announced outflows of low basis point, former parent company assets." Columbia's AUM fell eight percent year-over-year to $326 billion on December 31, 2011. And adjusted operating earnings for the overall asset management unit, which includes Columbia and Threadneedle, fell to $126 million for Q4 2011, down from $167 million in Q4 2010. Ameriprise's operating earnings climbed two cents year-over-year to $1.33 per share, yet still fell short of analysts' expectations by six cents. Printed from: MFWire.com/story.asp?s=39011 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |