July 30 Asset manager Affiliated Managers Group
Inc's second-quarter profit more than doubled as the
inflows of new client money increased.
Net profit rose to $134.2 million, or $1.18 cents per share,
from $60.9 million, or 12 cents per share, a year earlier.
On an economic basis, the company earned $2.18 per share
while analysts expected $2.10, according to Thomson Reuters
Economic net income (ENI) after taxes is a measure of
profitability that takes into account the mark-to-market value
of the company's funds.
Total assets under management rose to $469.48 billion as of
June 30 from $462.53 billion at the end of the first quarter.