Acadian Asset Management Inc. (AAMI) FY2025 10-K Annual Report
Acadian Asset Management Inc. (AAMI) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 27, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Acadian Asset Management Inc. FY2025 10-K Analysis
Business Overview
- • Core business: Systematic investment management via majority-owned Acadian LLC with $178B AUM as of Dec 31, 2025
- • New emphasis on enhanced equity and equity extension strategies like 130/30 offering higher fee, high conviction products
- • Name change effective Jan 1, 2025 from BrightSphere Investment Group Inc. to Acadian Asset Management Inc. signals rebranding
- • Employee count at 396 full-time equivalents as of Dec 31, 2025, including 20 at holding company level
- • Significant share repurchases: 58% of shares repurchased from 2020 through 2025 reflecting strong capital return strategy
Management Discussion & Analysis
- • Revenue $563.7M in 2025, up 11.5% YoY from $505.6M in 2024
- • Operating margin declined to 23% in 2025 from 27% in 2024 (down 400 bps approx)
- • Best segment: Enhanced Equity AUM grew $29.2B to $40.0B in 2025, 22.5% of total AUM
- • Worst segment: Performance fees down 44% YoY to $31.4M in 2025 from $71.4M in 2024
- • Net inflows record $29.4B in 2025 vs $1.8B in 2024; total AUM rose to $177.5B
- • Net income attributable to controlling interests declined 5.9% to $80.0M in 2025
- • Capital allocation: No explicit buybacks/dividends/capex figures disclosed in provided text
- • Management uses Economic Net Income (ENI) ($117.6M in 2025, up 11.1% YoY) to guide operations
- • Management highlights strong asset growth, but notes risks from AUM mix and fee rate changes
Risk Factors
- • Regulatory risk SEC scrutiny on conflicts of interest and investment advisory agreement termination upon assignment under Advisers Act and Investment Company Act
- • Macroeconomic threat 70% AUM in non-U.S. currencies facing foreign exchange risk and potential asset value declines due to U.S. dollar strength
- • Operational vulnerability dependency on Acadian LLC profitability and required cash distributions subject to working capital and insolvency risks
- • Competitive risk pressure on fee levels from industry trend toward lower fees and sub-advisory agreements impacting revenue growth
- • Financial risk key personnel dependency with potential adverse impact from loss of investment and management staff despite some non-competition agreements
Acadian Asset Management Inc. FY2025 Key Financial MetricsXBRL
Revenue
$564M
▲ +11.5% YoY
Net Income
$80M
▼ -5.9% YoY
Operating Margin
23.4%
▼ -337bp YoY
Net Margin
14.2%
▼ -262bp YoY
Total Assets
$677M
▼ -3.7% YoY
EPS (Diluted)
$2.21
▼ -0.5% YoY
Operating Cash Flow
-$2M
▼ -104.3% YoY
Source: XBRL data from Acadian Asset Management Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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