What Makes Affiliated Managers Group (AMG) an Interesting Investment Despite the Decline in Q1? - InvestingChannel

What Makes Affiliated Managers Group (AMG) an Interesting Investment Despite the Decline in Q1?

Ariel Investments, an investment management company, released its “Ariel Fund” first-quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the Ariel fund gained +6.66% outperforming +1.40% and +3.39% gains of both the Russell 2500 Value Index and the Russell 2500 Index. The average annual returns of Ariel Fund (Investor class) for 1-, 5-, and 10-year periods were -8.74%, +5.80%, and +9.06% respectively, for the period ended March 31, 2023. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Ariel Fund highlighted stocks like Affiliated Managers Group, Inc. (NYSE:AMG) in the first quarter 2023 investor letter. Based in West Palm Beach, Florida, Affiliated Managers Group, Inc. (NYSE:AMG) is an investment management company. On June 1, 2023, Affiliated Managers Group, Inc. (NYSE:AMG) stock closed at $141.49 per share. One-month return of Affiliated Managers Group, Inc. (NYSE:AMG) was -0.07%, and its shares gained 5.88% of their value over the last 52 weeks. Affiliated Managers Group, Inc. (NYSE:AMG) has a market capitalization of $5.108 billion.

Ariel Fund made the following comment about Affiliated Managers Group, Inc. (NYSE:AMG) in its Q1 2023 investor letter:

“Finally, boutique asset manager, Affiliated Managers Group, Inc. (NYSE:AMG) declined in the period. Although global equity and quantitative outflows continue to moderate, AMG is experiencing strong investment performance within the alternatives segment as well as generating higher performance fees across its diversified set of strategies. Looking ahead, we remain excited about its pipeline of new investments in secular growth areas such as private markets, dedicated ESG strategies, liquid alternatives and wealth management. Meanwhile, AMG continues to take advantage of the company’s low valuation, actively retiring 26% of AMG’s shares outstanding since 2019.”

Affiliated Managers Group, Inc. (NYSE:AMG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held Affiliated Managers Group, Inc. (NYSE:AMG) at the end of first quarter 2023 which was 33 in the previous quarter.

We discussed Affiliated Managers Group, Inc. (NYSE:AMG) in another article and shared the list of best asset management stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.

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