Affiliated Managers Group Inc. Provides Interest Expense Guidance for the First Quarter of 2012; Revised Earnings Guidance for the Full Year of 2012
January 31, 2012 at 11:00 am EST
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Affiliated Managers Group Inc. provided interest expense guidance for the first quarter of 2012 and revised earnings guidance for the full year of 2012. The company expected GAAP tax rate to be 36% going forward and cash tax rate to decline to approximately 15% in the first quarter. Total interest expense to return to approximately $26 million for the first quarter and going forward.
The company raised the bottom end of 2012 guidance and expected economic earnings per share to be in the range of $6.70 to $7.40. This guidance assumes normal convention of market with 2% quarterly growth beginning in the second quarter and a weighted average share count of 53 million. The lower end of 2012 guidance includes a relatively modest contribution for performance fees and organic growth, while the upper end of the range assumes a more robust contribution from performance fees and flow expectation. Cash tax rate to decline to approximately 15% in the first quarter and then trend upward in 2012 with organic growth and performance fees.
Affiliated Managers Group, Inc. is a global independent investment management company. The Company is focused on investing in a range of partner-owned investment firms, known as Affiliates. Its Affiliates provide a diverse range of differentiated investment strategies designed to assist institutional and wealth clients worldwide in achieving their investment objectives. Its Affiliates also provide investment management and customized investment counseling and fiduciary services to high-net worth individuals and families and institutional clients. Its Affiliates distribute their investment services and products to institutional and wealth clients through direct sales and relationships with consultants and intermediaries around the world through their own business development capabilities. Its Affiliates manage assets for investors in more than 50 countries. It manages its assets across a range of private markets, liquid alternative and differentiated long-only investment strategies.
AFFILIATED MANAGERS GROUP, INC. 
