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, August 2, 2012 Manning & Napier Reports Outflows and Decreased Revenue in Q2 Manning & Napier's second-quarter results show a dip in revenues and AUM, along with a small rise in economic income. The news was announced in a press release, and the complete results were filed with the SEC. The firm's AUM as of June 30, 2012 was $42.4 billion, down 5 percent from the $44.7 billion under management as of the end of the first quarter. This decrease is composed of $2.2 billion in market depreciation and $200 million of outflows, mostly from the separate accounts the company manages. Manning & Napier's quarterly revenue was $81.5 million, down 5 percent from the second quarter of 2011 and down 4 percent from the first quarter of 2012. Patrick Cunningham, Manning & Napier's CEO, said that the firm is "looking past short-term sentiment to identify opportunities that meet the long-term needs of our clients," and execs "continue to have strong conviction in the positioning of our client portfolios." Printed from: MFWire.com/story.asp?s=40824 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |