Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of Artio Global Investors,'s Sloan Ratio %
For the Asset Management subindustry, Artio Global Investors,'s Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Artio Global Investors,'s Sloan Ratio % Distribution in the Asset Management Industry
For the Asset Management industry and Financial Services sector, Artio Global Investors,'s Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Artio Global Investors,'s Sloan Ratio % falls into.
Artio Global Investors, Sloan Ratio % Calculation
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
Artio Global Investors,'s Sloan Ratio for the fiscal year that ended in Dec. 2012 is calculated as
Artio Global Investors,'s Net Income for the trailing twelve months (TTM) ended in Mar. 2013 was 1.223 (Jun. 2012 ) + -40.435 (Sep. 2012 ) + -1.172 (Dec. 2012 ) + -8.293 (Mar. 2013 ) = €-48.68 Mil.
Artio Global Investors,'s Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2013 was 6.551 (Jun. 2012 ) + 15.976 (Sep. 2012 ) + 11.097 (Dec. 2012 ) + -16.119 (Mar. 2013 ) = €17.51 Mil.
Artio Global Investors,'s Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2013 was 0.038 (Jun. 2012 ) + 0.359 (Sep. 2012 ) + 0.11 (Dec. 2012 ) + 0.13 (Mar. 2013 ) = €0.64 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Artio Global Investors, (FRA:A1I) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Mar. 2013, Artio Global Investors, has a Sloan Ratio of -46.38%, indicating earnings are more likely to be made up of accruals.
Artio Global Investors, Sloan Ratio % Related Terms
Thank you for viewing the detailed overview of Artio Global Investors,'s Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Artio Global Investors, (FRA:A1I) Business Description
Artio Global Investors Inc. was incorporated in Delaware. The Company is an asset management Company that provides investment management services to institutional and mutual fund clients. In addition to International Equity, it offers a select group of other equity and fixed income strategies, including Global Equity, a series of U.S. Equity strategies, High Grade Fixed Income, High Yield and Local Emerging Markets Debt. Currently, it manage and advise the following investment vehicles through which clients can access its investment capabilities: proprietary funds; commingled institutional investment vehicles; institutional separate accounts; sub-advisory accounts; and a hedge fund. Its operations and clients are based principally in the U.S.; however, a substantial portion of its AuM is invested outside of the U.S. Its revenues are mainly billed in U.S. dollars, driven by investment management fees earned from managing clients' assets, and are calculated on the U.S. dollar value of the investment assets it manage for clients. Its distribution efforts target institutions and organizations that demonstrate institutional buying behavior and longer-term investment horizons, such as pension fund consultants, broker dealers, registered investment advisors ('RIAs'), mutual fund platforms and sub-advisory relationships, enabling it to achieve significant leverage from its focused sales force and client service infrastructure. It also manage assets for more than 700,000 retail mutual fund shareholders through SEC-registered funds and other retail investors through 10 funds that it sub-advise for others. It competes in all aspects of its business with other investment management companies. The Company's business is subject to extensive regulation in the U.S. at both the federal and state level, as well as by self-regulatory organizations and outside the U.S.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
FRA:A1I has been successfully added to your 