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Calamos Asset Management Inc. (CLMS) filed Quarterly Report for the period ended 2011-06-30.
Calamos Asset Management Inc. has a market cap of $254.98 million; its shares were traded at around $13.22 with a P/E ratio of 11.95 and P/S ratio of 0.78. The dividend yield of Calamos Asset Management Inc. stocks is 3%.
This is the annual revenues and earnings per share of CLMS over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of CLMS.
Highlight of Business Operations:
Assets under management increased by $7.4 billion, or 25%, to $37.4 billion at June 30, 2011 from $29.9 billion at June 30, 2010. Our assets under management consisted of 76% investment companies and 24% separate accounts at June 30, 2011 and 77% investment companies and 23% separate accounts at June 30, 2010.
During the second quarter of 2011, net redemptions in the investment companies that we manage were $218 million and represent an unfavorable change of $90 million from net redemptions of $128 million in the second quarter of 2010. During the most recent quarter, we generated positive net purchases in eleven of our mutual funds, including all five of our Dublin-based UCITS, which collectively added $84 million during the quarter. However these inflows were tempered by net redemptions in our Convertible Fund and a significant reduction in net purchases into our Market Neutral Income Fund, as both funds were closed to new investors in January 2011. We have continued to see interest increase in our global and international equity strategies which all produced significant increases in net purchases for the quarter and year-to-date periods. Assets under management within our investment companies were negatively impacted by market depreciation of $395 million during the three months ended June 30, 2011 compared to market depreciation of $1.8 billion during the three months ended June 30, 2010.
Through the first six months of 2011 the increase in security valuations positively impacted our investment companies assets under management by $1.0 billion compared to a depreciating market of $1.2 billion during the six months ended June 30, 2010. Net purchases in our investment companies were $128 million for the first half of 2011 and represent a favorable change of $288 million from net redemptions of $160 million in the first half of 2010. The elements that drove the quarter-over-quarter variance, coupled with the slowing of net redemptions from our Growth Fund, were also the cause of the variances in the comparable first half periods.
Separate accounts, which represent managed accounts for both institutions and individuals, had combined net purchases of $125 million and $397 million during the second quarter and year-to-date period ended June 30, 2011, respectively, compared to net redemptions of $583 million and $1.1 billion during the prior-year periods. The net purchases in each period of 2011 were driven primarily from our institutional business, including winning our first institutional mandate in Asia as well as our first institutional accounts in international equity and emerging market strategies. The 2010 redemptions from our managed accounts were driven by our decision in the first quarter of 2010 to increase the account minimums for our convertible-based strategies on separately-managed account platforms. Separate accounts were impacted by market depreciation of $121 million and market appreciation of $425 million during the three and six months ended June 30, 2011, respectively, compared to market depreciation of $569 million and $365 million during the three and six months ended June 30, 2010, respectively.
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