Growth in Assets Under Management
Assets under management (AUM) grew 2% in the quarter, reaching $171 billion at June 30, up $4 billion sequentially, benefiting from market rebound.
Strong ETF Performance
ETFs had positive net flows and reached $3.7 billion in AUM with an organic growth rate of 74% over the trailing 12 months.
Improved Operating Margin and Earnings
Operating margin improved to 31.3% from 27.6% in the previous quarter, and earnings per share as adjusted increased to $6.25 from $5.73.
Share Repurchases
The company executed its highest level of share repurchases in 3 years, totaling $30 million, representing 3% of beginning outstanding shares.
Strong Long-term Investment Performance
74% of equity assets and 69% of fixed income assets outperformed their benchmarks over a 10-year period.
Pipeline for Inorganic Growth
The pipeline for inorganic growth opportunities is at its highest level, with strong liquidity positioning the company well to act on strategic opportunities.