Affiliated Managers Group, Inc. (NYSE:AMG) Q1 2022 Earnings Conference Call May 2, 2022 8:30 AM ET
Company Participants
Anjali Aggarwal - Head, IR
Jay Horgen - President & CEO
Tom Wojcik - CFO
Conference Call Participants
Robert Lee - KBW
Craig Siegenthaler - Bank of America
Bill Katz - Citigroup
Alex Blostein - Goldman Sachs
Brian Bedell - Deutsche Bank
Dan Fannon - Jefferies
Operator
Greetings, and welcome to the AMG First Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. As a reminder, this conference is being recorded.
I would now like to turn the conference over to your host, Anjali Aggarwal, Head of Investor Relations for AMG. Thank you. You may begin.
Anjali Aggarwal
Good morning and thank you for joining us today to discuss AMG's results for the first quarter of 2022.
Before we begin, I'd like to remind you that, during this call, we may make a number of forward-looking statements, which could differ from our actual results materially and AMG assumes no obligation to update these statements.
A replay of today's call will be available on the Investor Relations section of our website, along with a copy of our earnings release and a reconciliation of any non-GAAP financial measures, including any earnings guidance announced on this call.
In addition, we posted an updated investor presentation to our website this morning and encourage investors to consult website regularly for updated information.
With us today to discuss the company's results for the quarter are Jay Horgen, President and Chief Executive Officer, and Tom Wojcik, Chief Financial Officer.
With that, I will turn the call over to Jay.
Jay Horgen
Thanks, Anjali. Good morning, everyone.
AMG achieved strong results in the first quarter of 2022, with economic earnings per share of $4.65, up 9% year-over-year, driven by growth in management fee earnings, and continued capital deployment.
During the quarter, we announced two meaningful strategic transactions involving Systematica and Baring Asia that further demonstrate the successful execution of our strategy and our ability to create shareholder value.
The full impact of these transactions will be reflected in our results later this year and into 2023, as we generate earnings growth from Systematica and redeploy capital from Baring.
AMGs business is enhanced by these two transactions and the consistent and disciplined execution of our strategy over time has resulted in our strong position today. Our business is diversified and we have structural advantages inherent in our partnership model. Our high quality affiliates are generating strong performance across a wide array of in-demand areas and we have a strong balance sheet enhanced by our recurring cash flow and significant incremental capital to invest.