Affiliated Managers Group (NYSE: AMG) reported Q2 EPS of $3.61, $0.02 better than the analyst estimate of $3.59. Revenue for the quarter came in at $600.1 million versus the consensus estimate of $604.6 million.

“Against the backdrop of mixed global equity markets, AMG generated strong results for the second quarter, including organic growth from net client cash flows of $4.3 billion and Economic earnings per share of $3.61, an 8% increase over the second quarter of 2017,” stated Nathaniel Dalton, President and Chief Executive Officer of AMG. “Our results reflect the diversity and scale of our global business and the quality of our Affiliates’ distinctive return streams across a broad array of alpha-oriented areas.”

“During the quarter, our positive net flows were driven by continued strong demand for a wide range of alternative investments along with increased sales across an array of global equity strategies,” Mr. Dalton continued. “Looking ahead, we continue to benefit from substantial interest in highly differentiated strategies for the alpha portions of client portfolios. With industry-leading capabilities in many of the most attractive areas of active equities and alternatives, we are working closely with our Affiliates to bring the outstanding performance of focused specialist firms, supported by the scale, resources, and risk management of a global investment management franchise, to clients around the world.”

“Finally, with AMG’s unique competitive position and 25-year track record of successful partnerships, we are confident in our ability to continue to generate strong long-term earnings growth through accretive investments in outstanding new Affiliates, while also consistently returning capital to shareholders through our quarterly cash dividend and share repurchases,” concluded Mr. Dalton. “Given our significant and growing scale, and our commitment to disciplined capital allocation, we are well-positioned to continue to generate meaningful shareholder value going forward.”

For earnings history and earnings-related data on Affiliated Managers Group (AMG) click here.