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Affiliated Managers Group Inc.

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Affiliated Managers’ shares have underperformed the industry over the past three months. Yet, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. Its third-quarter 2018 results benefited from rise in revenues and growth in assets under management (AUM), partly offset by higher expenses. The use of high debt by the company might limit its flexibility in terms of procuring additional finance. Also, the presence of substantial intangible assets on the company’s balance sheet remains a concern. Nevertheless, the company remains well positioned for growth, based on successful partnerships, diverse product mix, focus on strengthening its retail market operations and improving AUM.

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