NYSE:APAMCapital Markets
Artisan Partners (APAM) Stock Wrestles With Heavy Outflows Despite Profit Growth
Artisan Partners Asset Management slipped about 1% to US$39.24 into the weekend, a muted reaction for a stock that just posted one of its cleaner quarters on the income statement. Revenue came in at US$307.9m and basic earnings per share hit US$1.22, solid numbers for an active asset manager operating through heavy client reshuffling.
The catch sits on the other side of the ledger. Artisan logged US$10.5b of net outflows in the quarter, a sharp reminder that fee revenue ultimately follows...