Short answer
Affiliated Managers Group Inc (AMG) filed its fiscal 2016 10-K annual report with the SEC on Feb 24, 2017. It reported revenue of $2.2B and net income of $473M.
- Top risk flagged: SEC rulemaking under Dodd-Frank: proposed derivatives and mutual-fund liquidity rules could restrict Affiliate product management
FY2016 key financial metrics · XBRL
- Revenue
- $2.2B
- Net income
- $473M
- Operating margin
- 32.1%
- EPS (diluted)
- $8.57
- ROE
- 13.1%
- Operating cash flow
- $1.0B
Source: XBRL data from the Affiliated Managers Group Inc (AMG) FY2016 10-K on SEC EDGAR. USD.
Affiliated Managers Group Inc FY2016 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Global asset manager partnering with boutique Affiliates, combining equity ownership, centralized support and Affiliate operational autonomy
- $688.7B assets under management across 550-plus products, approximately $727B pro forma for subsequently closed investments
- Global distribution footprint spanning Sydney, London, Zurich, Dubai and Hong Kong, with products offered in more than 50 countries
- 2016 emphasis on alternative and global equity strategies, while largely avoiding passive indexing, ETFs, fixed income and money-market products
- Approximately 4,100 employees, predominantly working within Affiliates, with no collective bargaining agreements
Management Discussion & Analysis
- Revenue $2.1946B, down 12% YoY, while aggregate revenue increased 4% to $4.2963B
- Net income $472.8M, down 7%; Economic net income $703.6M, up 2%
- Best channel High Net Worth revenue $280.1M, up 5%; worst Mutual Fund revenue $1.036B, down 16%
- Operating cash flow $1.0276B; Affiliate investments $1.1B higher, 0.2M shares repurchased for $32.2M
- Outlook: investments, distributions, debt service, buybacks and dividends; risks from active-management outflows, regulation and contingent payments
Risk Factors
- SEC rulemaking under Dodd-Frank: proposed derivatives and mutual-fund liquidity rules could restrict Affiliate product management
- UK Brexit referendum: potential loss of European passport access for UK and European operations
- Passive index funds and ETFs: investor allocations away from Affiliates’ predominantly active strategies
- Cyberattacks on internal and third-party systems: potential disruption, regulatory action, and client-information exposure
- $2.3 billion debt and $673.5 million redeemable non-controlling interests: possible refinancing or repurchase liquidity strain
Generated from the filing text; verify against the original. How to read a 10-K
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