Artio Global Investors Reports Fourth Quarter And Full Year 2011 Results; Announces Quarterly Dividend Of $0.06 Per Share
“Looking ahead to 2012, we will remain vigilant on costs and seek to maintain a prudent approach to capital management. Despite expectations of further outflows from our International Equity strategies in the near-term, we also see opportunities for long-term growth. Our High Grade, High Yield and US Equity strategies are all well-positioned to gather additional assets, which over time should bring greater diversity and stability to our revenues.”
Fourth Quarter of 2011 Comparison with Fourth Quarter of 2010
Assets Under Management and Net Client Cash Flows
Assets under management were $30.4 billion as of December 31, 2011, down $23.0 billion, or 43%, from $53.4 billion as of December 31, 2010, due to net client cash outflows and market depreciation.Net client cash outflows for the fourth quarter of 2011 were $4.8 billion, driven primarily by net client cash outflows from our International Equity I and II strategies. 8 Revenues and Other Operating Income Revenues and other operating income for the fourth quarter of 2011 totaled $51.9 million, down 39% from $85.2 million for the fourth quarter of 2010. The decrease was driven primarily by lower investment management fees of $51.6 million for the fourth quarter of 2011, down 39% from $84.7 million for the fourth quarter of 2010, due primarily to lower average assets under management. Expenses Employee Compensation and Benefits For the fourth quarter of 2011, adjusted employee compensation and benefits expenses were $20.6 million, down 5% from $21.7 million for the fourth quarter of 2010. The decrease was due primarily to lower incentive compensation accruals, partly offset by accruals related to the Company’s long-term incentive plan implemented in 2011. GAAP employee compensation and benefits expenses for the fourth quarter of 2011 were $23.0 million, down 6% from $24.4 million for the fourth quarter of 2010, due primarily to the reasons noted above.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV