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Affiliated Managers Group Inc (AMG) filed its Q2 2016 10-Q quarterly report on Aug 5, 2016 for the quarter ended Jun 30, 2016.

Affiliated Managers Group Inc Q2 2016 10-Q analysis

AI summary of MD&A and risk factor updates

Revenue $554.1M, down 14% YoY from $646.6M
Mutual Fund worst performer: revenue $264.9M, down 18% YoY
High Net Worth best performer: revenue $69.1M, up 1% YoY
Operating cash flow $341.1M vs $470.5M YoY, cash $360.4M vs $563.8M
Outlook: continued alternative-strategy demand and favorable transaction environment; net client cash outflows $6.6B over twelve months

Newly added regulatory risk: ASU 2015-02 adoption changed VIE classifications, requiring certain investment entities to be consolidated or disclosed
Most material operational risk: Global-equity Affiliates experienced declining indefinite-lived intangible fair values, creating impairment exposure
Legal risk: Third Avenue and AMG named in litigation concerning liquidation of the Third Avenue Focused Credit Fund
Market risk: Foreign-currency translation loss reached $55.9 million for six months ended June 30, 2016
Financial risk: Senior bank debt increased to $898.4 million, with credit facilities maturing September 30, 2020

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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