Citigroup Lists Key Asset Manager Winners

In a report released this morning, Citigroup outlines its key winners in the asset manager sector.

“Waddell & Reed Financial Inc. (NYSE: WDR), by far, posted the most robust set of flows at +$650M, delivering 12% annualized growth – with contribution in equities and bonds, increasingly diversified volume across products while implying solid institutional growth based on management's previous flow disclosure,” Citigroup writes.

“For Eaton Vance Corp. (NYSE: EV), flows were solid with $840M of net inflows (10% annualized growth), including $340M in equities (7% annualized growth) and $500M in bonds (14% annualized growth), though >100% of fixed income volumes were attributable to bank loans.

“For Affiliated Managers Group Inc. (NYSE: AMG), equities inflows accelerated MTM to $277M, or an 8% annualized growth rate, with further market share gains. Elsewhere, data encouraging for LM as equities inflows turned positive. BLK looked optically weak but, ex low(er) fee seasonal ETF impact, active equities looked strong at $1.1B, or a 12% annualized growth rate.”

Waddell & Reed Financial closed Friday at $40.08; Eaton Vance closed at $33.38; Affiliated Managers Group closed at $108.60.