Average assets under management for the second quarter of 2010 was $14.5 billion, an increase of 45.0%, from $10.0 billion, for the second quarter of 2009, and an increase of 0.7%, from $14.4 billion, for the first quarter of 2010.The weighted average fee rate was 0.533% for the second quarter of 2010, decreasing from 0.568% for the second quarter of 2009 and remaining relatively flat from 0.532% for the first quarter of 2010. The decrease from the second quarter of 2009 was due in part to large institutional inflows in our newly launched Europe, Australasia, and Far East ("EAFE") Diversified Value and Global Diversified Value strategies in the fourth quarter of 2009. We typically offer reduced fee rates to initial clients in our new product offerings. The year-over-year weighted average fee rate also decreased in part due to an increase in the average size of the Company’s institutional accounts. The Company’s tiered fee schedules typically charge lower rates as account size increases.
Pzena Investment Management, Inc. Reports Results For The Second Quarter Of 2010
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.