Affiliated Managers Group (AMG, Financial) purchases meaningful equity interests in small to mid-size boutique asset managers for a fixed percentage of revenues. While AMG maintains operational autonomy, it provides its affiliates with strategic, operational and technological support, as well as access to its global distribution network. We believe the market underestimates the strength of AMG’s franchise and its focus on alternative investments and global equities.
From John Rogers (Trades, Portfolio)' Ariel Fund third-quarter 2018 shareholder commentary.
