Artisan Partners Asset Management Inc. (NYSE: APAM) (the "Company" or "Artisan Partners") today reported its results for the quarter ended September 30, 2013, and net income and earnings per share for the period from March 12, 2013 (the closing date of its initial public offering) through September 30, 2013.
"We believe that if we focus on hiring and developing the right talent, protect the alpha potential of our investment teams and manage our business with discipline and a focus on our clients, growth will follow naturally. This approach to growth is a key element of who we are. We are strongly committed to thoughtful growth,” Eric Colson, President and CEO, said.
Mr. Colson noted, "As of September 30, 2013, 10 of our 12 investment strategies (excluding our 13th strategy, which launched in June and only has a three-month track record) had added value relative to their broad performance benchmarks over the trailing 5-year and 10-year periods and since each strategy's inception. In addition, more than 90% of our assets under management were in strategies outperforming the respective benchmarks over the trailing 3, 5 and 10-year periods and since each strategy's inception.
"Business development efforts continue to be well diversified by investment team, strategy and distribution channel. This quarter all five of our investment teams and all five of our distribution channels experienced positive client cash flows. Our broker dealer channel stood out among distribution channels, accounting for nearly half of our net cash flows by channel. A little more than a decade ago we committed to focusing on that channel with partners that operate with institutional decision-making processes and centralized and thorough research efforts, which align well with our business model. Since that time assets under management sourced from the broker dealer channel have grown from less than $1 billion to nearly $20 billion.