Affiliated Managers reports Q3 EPS $6.87, consensus $5.88

Reports Q3 AUM $803.6M vs. $728.4M last year. Jay C. Horgen, CEO of AMG, said: “AMG generated excellent results in the Q3, with growth of 17% in Adjusted EBITDA relative to the prior-year quarter, driven by the successful execution of our strategy, including most notably our focus on increasing AMG’s exposure to alternative strategies, and growth of 27% in Economic Earnings per share, reflecting the additional positive impact of our disciplined capital allocation strategy. Ongoing strong client demand for our Affiliates’ alternative strategies drove approximately $9B in net inflows in the quarter, and approximately $17B in the year to date, further accelerating the evolution of our business profile.”