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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Stocks in this article: MN

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

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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