The company has successfully divested 6 of its 7 affiliates, retaining Acadian as its largest and most differentiated business, while generating $1.3 billion in capital returned to shareholders via share buybacks and expanding into credit and equity alternatives. Q2 2025 results showed a 42% increase in non-GAAP economic net income per share and all-time highs in both AUM and gross sales, with significant margin expansion.
Cyborg Score Rationale
The company demonstrated exceptional execution with record AUM of $151.1 billion, year-to-date gross sales of $28 billion exceeding prior records, and net client cash flow reaching 11% of beginning period AUM—the highest in company history. Operating margin expanded 360 basis points to 30.7% with improved operating leverage.
Top Insights
Record AUM of $151.1B in Q2 2025 with highest-ever net client cash flows at 11% of beginning AUM
Operating margin expanded 360 basis points to 30.7% demonstrating strong operating leverage and scalability
Strategic transformation from multi-boutique conglomerate to singularly-focused asset manager with disciplined capital allocation
Expanding into credit and equity alternatives while maintaining strong product innovation across global distribution platform
Named Competitors
Equities and Fixed Income — Global asset management leader with broad product suite
Systematic Investment Strategies — Quantitative and systematic investment specialist