Acadian Asset Management (BSIG) investor relations material

Executive summary

• Achieved record AUM of $151.1B as of June 30, 2025, up 34% year-over-year, driven by $13.8B net inflows and strong investment performance.

• Over 94% of strategies by revenue outperformed benchmarks over 3-, 5-, and 10-year periods.

• Enhanced equity and core strategies were key contributors to growth, with a large new mandate diversifying the client base.

• Global distribution platform expanded, with 43% of AUM from non-US clients and over 1,000 client accounts in 40+ countries.

• Six consecutive quarters of positive net flows and $28B in gross sales year-to-date.

Financial highlights

• Q2 2025 revenue rose 16.9% year-over-year to $127.4M; management fees up 15.9% to $122.3M.

• ENI revenue was $124.9M, ENI up 33% to $22.9M, and ENI diluted EPS up 42% to $0.64.

• Adjusted EBITDA grew 22% to $39.1M; ENI operating margin expanded to 30.7% from 27.1% year-over-year.

• U.S. GAAP net income attributable to controlling interests was $10.1M, down 8% year-over-year; diluted EPS was $0.28, down 3%.

• U.S. GAAP operating margin declined to 12.7% from 18.9% year-over-year due to higher compensation expenses.

Outlook and guidance

• 2025 full-year operating expense ratio expected at 45%-47% if equity markets remain stable; variable compensation ratio projected at 43%-47%.

• Management remains focused on scalability, disciplined expense management, and continued margin improvement.

• Pipeline remains robust and diversified by strategy, channel, and geography.

• Key employee distribution ratio expected at 9%-10% for full-year 2025.

• Management expects available cash and cash flow to be sufficient for operational and capital needs for at least the next twelve months.