The following is a summary of the Artisan Partners Asset Management Inc. (APAM) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Artisan reported a quarterly revenue increase of 3% and a 12% year-over-year revenue growth.

• Adjusted operating income rose 12% sequentially and 21% compared to the previous year.

• Adjusted operating margin improved by 280 basis points.

• Assets under management grew to $168 billion, marking a 6% increase from last quarter and a 23% increase year-over-year.

• Adjusted net income per adjusted share improved 12% sequentially and 23% year-over-year.

Business Progress:

• Artisan has focused on expanding investment strategies and diversifying its talent, particularly in the areas of fixed income and alternatives.

• Significant achievements have been made in building out the EMsights Capital Group and the Artisan Credit team.

• Launched new investment strategies such as global and emerging markets debt opportunities, enhancing their product offerings.

• The firm continues to focus on strategic growth areas, leveraging seasoned and new investment talent.

Opportunities:

• Continued diversification and innovative investment strategies in fixed income and alternatives have presented clear growth avenues.

• International expansion and targeting non-U.S. clients have significantly increased, representing approximately 26% of total AUM.

Risks:

• The evolving U.S. and international public equity markets present a risk factor, with a noted decline in the number of public companies and demographic shifts posing challenges.

• Dependence on the performance and market acceptance of newly launched investment strategies in fixed income and alternatives.

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