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 Third Quarter 2012 Earnings Results

Manning & Napier, Inc. (NYSE: MN), (“Manning & Napier” or “the Company”) today reported 2012 third quarter results for the period ended September 30, 2012.

Summary Highlights

  • Economic income and economic net income, non-GAAP measures, of $39.6 million and $24.4 million, or $0.27 per adjusted share
  • AUM at September 30, 2012 was $44.3 billion, compared with $42.4 billion at June 30, 2012
  • Third quarter revenue decreased less than 1% year-over-year and increased 5% sequentially to $85.4 million
  • Manning & Napier Group, LLC distributed to its members $31.3 million in cash for the quarter and $93.9 million year-to-date, resulting in a $0.16 per share third quarter dividend
  • Strategic Income Conservative and Strategic Income Moderate, two income-oriented mutual funds, were launched to meet the needs of income-oriented investors in a low yield environment

Patrick Cunningham, Manning & Napier’s Chief Executive Officer, commented, “Strong absolute and relative returns across our investment products drove third quarter results. Our investment portfolio positioning focuses on companies with the ability to demonstrate strong growth prospects, and the third quarter provided a market where these attributes were rewarded. As economic uncertainties and overhangs continue to loom, we remain focused on identifying investments with strong growth prospects and attractive valuations, which have consistently generated positive returns in the long run. While I am proud of our servicing and selling efforts in this difficult market environment, which has led to annualized separate account retention rates in excess of 95% and modest year-to-date inflows in our mutual funds and collective investment trusts, our focus is on returning the business to a position of stronger net inflows. Despite recent near-term trends favoring passive strategies, we believe active management will play a critical role in meeting client objectives and their evolving needs. As such, we are making the necessary investments in our business and expanding our distribution capacity in terms of personnel, geographic focus and product diversification to further meet the goals of our clients. Additionally, we are building track records and supporting new investment capabilities to broaden our product set coverage. With this focus, we believe we will continue to provide long-term value and return capital to our shareholders despite ongoing market uncertainties.”

1 of 7

Select the service that is right for you!

COMPARE ALL SERVICES
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 16,907.96 -77.65 -0.46%
S&P 500 1,966.11 -6.72 -0.34%
NASDAQ 4,403.7360 -15.2980 -0.35%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

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