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AMG - Affiliated Managers Group: Positive On Earnings Beat And New Investment
Affiliated Managers Group Inc.
Affiliated Managers Group's 2Q 2021 bottom line came in above market expectations, thanks to AUM growth, performance fees and share repurchases.
The company's recent proposed investment in Parnassus sends a clear signal that it wants to have more exposure to ESG-dedicated strategies which are seen as a growth area.
Affiliated Managers Group is currently valued by the market at 9.1 times consensus forward FY 2021 P/E and 8.0 times consensus forward FY 2022 P/E.