Reports Q4 revenue $226M, consensus $222.87M. "From a short-term perspective, 2022 was a difficult year. Our AUM declined 27% from $175B to $128B, as a result of $9.8B in net outflows and $36.6B in investment declines. In the fourth quarter, though, the power of our equity engine resulted in investment returns outpacing net outflows. We have continued to benefit from the market rebound-particularly in non-U.S. markets, including China-in early 2023. "While 94% of our AUM is in investment strategies that primarily invest in equity securities, we believe we are at an inflection point in the development of our fixed income businesses. Since 2013, when we made a strategic investment to expand and diversify into fixed income, we have never seen excitement around potential fixed income returns and allocations like we do today. Because of our long-term investments, we now offer six high value-added fixed income strategies spanning high-yield, leveraged loans, long-short credit, emerging markets debt and global macro. We are optimistic about the near, medium and long-term growth prospects of our two fixed income teams, the Artisan Credit team and the EMsights Capital Group."
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