Acadian Posts Record $1.36 ENI EPS as Q3 Assets Rise 44%

For the quarter ended Sept. 30, Acadian reported record ENI earnings per share of $1.36. Assets under management stood at $239.6 billion on that date, up 44% from a year earlier.

ENI totaled $48.3 million, up 78% from a year earlier, and ENI earnings per share increased 79%. Total revenue reached $191.2 million, a 32.6% year-over-year increase. Quarterly management fees set a record at $187.8 million, up 38%.

The company recorded $2.6 billion in net client inflows during the quarter, its 11th consecutive quarter with positive net client flows. Year-to-date net client inflows totaled $28.3 billion through Sept. 30.

U.S. GAAP net income attributable to controlling interests rose 135% year over year to $35.5 million. GAAP diluted earnings per share was $1.00, a separate measure from the $1.36 ENI earnings-per-share figure. Acadian describes ENI as a supplemental non-GAAP measure.

“Acadian delivered its eleventh consecutive quarter of positive net client cash flows,” said Kelly Young, the company’s president and CEO.

Acadian Asset Management Inc. is the NYSE-listed holding company of Acadian Asset Management LLC, which provides systematic investment strategies to institutional investors. Acadian released its results Oct. 29 at 7:30 a.m. ET (11:30 UTC).