July 30, 2013 / 12:46 PM / 4 years ago

Affiliated Managers profit rises on higher fund inflows

July 30 (Reuters) - 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 I/B/E/S.

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.

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