The following is a summary of the Artisan Partners Asset Management Inc. (APAM) Q2 2024 Earnings Call Transcript:
Financial Performance:
APAM reported AUM of $159 billion, up 11% from the previous year.
Revenue increased 11% year-over-year, aligned with average AUM growth.
Adjusted operating income rose 13% compared to the previous year's quarter.
Business Progress:
APAM has focused on expanding into Alternative investments, particularly aiming to grow its Alternatives and Emerging Market Debt segments.
The firm successfully closed a significant $800 million mandate in its Sustainable Emerging Markets strategy.
Continued expansion in Emerging Markets with a notable $860 million institutional account onboarded in July for the Emerging Markets Debt Opportunity strategy.
Opportunities:
Growth in Alternatives and Liquid Alternatives aligns with the firm's focus on talent-driven strategies in inefficient market segments where significant alpha can be generated.
APAM sees significant potential in Emerging Markets equity and debt, aimed at institutional allocators searching for long-term opportunities.
Risks:
The growth in the Alternatives sector, while promising, remains competitive against established entities with significant distribution networks.
More details: Artisan Partners Asset Management IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.