Affiliated Managers Group Inc (AMG) Q1 2018 10-Q Quarterly Earnings

Short answer

Affiliated Managers Group Inc (AMG) filed its Q1 2018 10-Q quarterly report on May 4, 2018 for the quarter ended Mar 31, 2018.

AI summary of MD&A and risk factor updates

Consolidated revenue $612.4M, up 13% from $544.3M YoY
Net income $224.0M vs $193.6M, controlling-interest income $153.0M vs $122.5M
Best performer: equity method revenue $1,036.3M, up 26%; alternatives AUM $329.3B
Average AUM $839.7B, up 13%; asset-based fee ratio declined 3%
Operating cash flow $205.0M vs $122.1M; cash fell to $334.2M from $439.5M after $313.1M financing outflow
Outlook: cash flows plus borrowing capacity expected to fund needs; headwinds include passive-product demand and U.S. equity outflows

No material risk-factor changes identified, based on provided filing text
Regulatory compliance: Affiliates must maintain minimum financial or capital requirements under regulatory authorities
Operational risk: $120.4 million in unfunded co-investment commitments may be called in future periods
Financial risk: Senior debt includes a $1.45 billion revolver maturing September 30, 2020
Market risk: Private equity fund distributions depend on underlying asset liquidation, generally over periods up to 15 years

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

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