Jefferies & Co. has thoughts on the asset managers, as retail funds continue to flow into fixed income over equity. In the report, Jefferies covers Affiliated Managers Group, Inc. AMG.
In the research report, Jefferies writes, "Net fund flows trends across the mutual fund industry remained relatively intact during the month of August as investors continued to favor fixed income funds in lieu of equities. This is not surprising as August was another challenging month for the equity markets with the S&P 500 and the MSCI EAFE declining 4.5% and 3.1%, respectively. The fixed income markets, especially in the US, fared much better, with the Barclays US Agg. Bond Index returning 1.3%."
Shares of Affiliated Managers Group gained $3.85 to finish at $78.95 on Friday, a gain of 5.1%.
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