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Earnings Call Summary | BrightSphere Investment(BSIG.US) Q1 2024 Earnings Conference

Futu News ·  May 5 00:12  · Conference Call

The following is a summary of the BrightSphere Investment Group Inc. (BSIG) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • BrightSphere reported Q1 2024 ENI per share of $0.44, an increase of 57% compared to Q1 2023, largely driven by increased management fee revenue.

  • The Assets Under Management (AUM) has grown by 6.5% to $110 billion.

  • The buyback of approximately 10% of outstanding shares positively impacted EPS.

  • The company had a cash balance of $102 million at the end of March 2024.

Business Progress:

  • Acadian continues to show strong investment performance with over 80% of its strategies outperforming their respective benchmarks.

  • Net client cash flows for Q1 2024 remained positive at $0.4 billion.

  • Growth initiatives such as the Equity Alternatives Platform and Systematic Credit platform are progressing as planned.

  • It repurchased 3.5 million shares in Q1 2024, totaling approximately $74 million.

  • The company plans to utilize free cash for organic growth and further share buybacks.

More details: BrightSphere Investment 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.

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