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Monday, November 04, 2019|
A PA AM Reaches a Record $527.2B In AUM
A publicly traded, acquisitive asset manager's AUM reached at record $572.2 billion last quarter.
Chris Donahue, CEO of Federated, talked about U.S. opportunities for London-based Hermes Fund Managers Limited, which Federated bought a 67-percent stake in last year. (He notes that Hermes' assets slipped to $44 billion at the end of Q3 from $45.7 billion at the end of Q2.)
"On the international side, we've had a good response from clients for the initial funds developed for US distribution that are sub advised by Hermes. Assets in these funds were just over $60 million at the end of the third quarter with about half of that being externally sourced," Donahue states. "We are evaluating further US mutual fund launches using Hermes strategies."
According to the Federated earnings report, total AUM climbed to a record $527.2 billion on Sept. 30, 2019, up $90.0 billion or 21 percent from $437.2 billion on Sept. 30, 2018, and up $25.0 billion or 5 percent from $502.2 billion on June 30, 2019.
As an overall, Federated Investors beat analysts' GAAP EPS expectations by $0.07.
Printed from: MFWire.com/story.asp?s=60459
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