AMG Beats Views; Calamos Misses

Affiliated Managers Group's(AMG Quote) third-quarter cash earnings rose more than 16% on increased investment from its institutional clients.

The Boston money manager persevered through market volatility in the third quarter, pulling in $4.3 billion in new money from investors. AMG was powered by strong growth from its growth equity managers, international equities and alternative investment products, said CEO Sean M. Healey.

Net income rose 28.7% to $42.6 million for the quarter ended Sept. 30, compared with $33.1 million in the same period last year.

Cash net income, which the company defines as net income plus amortization and deferred taxes related to intangible assets, plus affiliate depreciation, rose 20.9% to $61.3 million from $50.7 million. ...