This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Manning & Napier, Inc. Reports Second Quarter 2012 Earnings Results

On a GAAP basis, net income attributable to the controlling and noncontrolling interests for the six-months ended June 30, 2012 was $43.9 million, compared with net income attributable to the controlling and noncontrolling interests of $43.5 million in 2011. GAAP net income attributable to the common shareholders for the six-months ended June 30, 2012 was $1.1 million, or $0.08 per basic and diluted share.

Assets Under Management

As of June 30, 2012, AUM was $42.4 billion, a decrease of 5% from the $44.7 billion reported as of March 31, 2012 and $44.6 billion as of June 30, 2011. As of June 30, 2012, the composition of the Company’s AUM was 56% in separate accounts and 44% in mutual funds and collective investment trusts, which is consistent with the AUM composition as of March 31, 2012 and June 30, 2011.

Since March 31, 2012, AUM decreased by $2.4 billion, including decreases of 5% in both separate account AUM and in mutual fund and collective investment trust AUM. Of the $2.4 billion decrease in AUM from March 31, 2012 to June 30, 2012, 92%, or $2.2 billion, of the decrease came from market depreciation during the period. The remaining 8% of the decrease was driven by net client outflows of $0.2 billion. The net client outflows during the quarter consisted of gross client inflows of $2.4 billion, offset by $2.6 billion of gross client outflows, primarily attributable to outflows in the Company’s separate accounts caused by withdrawals from existing client accounts. The annualized separate account cancellation rate was 5% during the six months ended June 30, 2012.

When compared to June 30, 2011, AUM decreased by $2.3 billion from $44.6 billion, including a decrease of $1.4 billion, or 5%, in separate account AUM and a decrease of $0.9 billion, or 5%,in mutual fund and collective investment trust AUM.

4 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,674.16 -101.96 -0.57%
S&P 500 2,056.64 -11.25 -0.54%
NASDAQ 4,860.3230 -40.5620 -0.83%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs