- BrightSphere Investment press release (NYSE:BSIG): Q1 GAAP EPS of $0.28 beats by $0.01.
- Revenue of $91.8M (-18.2% Y/Y) misses by $0.1M.
- Continue rolling out Systematic Credit initiative as planned and building track record for Equity Alternatives after seeding at the end of 2022.
- Continued strong investment performance with 87%, 86% and 90% of strategies by revenue beating their benchmarks over the prior 3, 5, and 10-year periods, respectively, as of March 31, 2023.
- Total AUM of $97.5 billion as of March 31, 2023, a 4.2% increase from December 31, 2022, driven by market appreciation.
- Third straight quarter of positive net flows with $0.1 billion of net flows for Q1'23; annualized revenue impact from Q1'23 flows of $1.0 million.
- Cash balance of $154.1 million; expect to continue deploying excess capital toward supporting organic growth and for share repurchases as opportunities allow.
- Shares +1.7% PM.