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Acadian Asset Management (BSIG) investor relations material
Acadian Asset Management Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary30 Oct, 2025
Executive summary
Achieved record AUM of $166.4 billion as of September 30, 2025, with $6.4 billion in net inflows in Q3, the second highest in firm history, driven by enhanced, extension, and non-U.S. equity strategies.
95% of strategies by revenue outperformed benchmarks over five years, with a 4.5% annualized excess return; over 94% outperformed over 3-, 5-, and 10-year periods.
Management fee revenue reached a record $136.1 million, up 21% year-over-year, driven by strong net flows and market appreciation.
Revenue for Q3 2025 was $144.2 million, up 17% year-over-year, despite a sharp drop in performance fees.
Enhanced and extension strategies, especially internationally, drove robust client demand and pipeline diversity.
Financial highlights
Q3 2025 ENI revenue rose 12% year-over-year to $136 million, with ENI of $27.2 million, up 23% from Q3 2024.
U.S. GAAP net income attributable to controlling interests fell 11% year-over-year to $15.1 million, and EPS declined 7% to $0.42, mainly due to higher non-cash operating expenses.
ENI diluted EPS increased 29% to $0.76; adjusted EBITDA rose 12% to $45.1 million.
Operating margin expanded to 33.2% from 31.7% in Q3 2024; U.S. GAAP operating margin declined to 18% from 22% year-over-year.
Operating expense ratio improved by 480 basis points to 43.3% year-over-year.
Outlook and guidance
Fiscal year 2025 operating expense ratio expected at 44%-46%; variable compensation ratio at 43%-45%.
Distribution ratio for key employee distributions projected at 11%-12% for 2025.
Focus remains on disciplined expense management, organic growth, new product offerings, and global distribution expansion.
Management expects available cash, cash equivalents, and operating cash flow to be sufficient for at least the next twelve months.
Anticipates ongoing strong free cash flow and disciplined capital deployment.
Drivers of increased non-cash expenses?
Path to $10B+ in systematic credit AUM?
Drivers of fee rate changes beyond enhanced?
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Next Acadian Asset Management earnings date
Q4 20255 Feb, 2026
Next Acadian Asset Management earnings date
Q4 20255 Feb, 2026
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BrightSphere Investment Group Inc. is an asset management company that provides investment solutions to institutions and individuals. It operates through a network of investment affiliates offering a range of strategies including equities, fixed income, and alternative investments. The company is headquartered in Boston, Massachusetts, and its shares are listed on the NYSE.
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