Acadian Asset Management (AAMI) Investor Day 2026 summary

Strategic positioning and growth

• Achieved record AUM of $219 billion as of April, with assets nearly doubling since 2023 and systematic equity AUM growing 162% since end-2022, outpacing discretionary strategies.

• Enhanced, Extensions, Systematic Credit, and Wealth offerings are key growth drivers, with Enhanced AUM rising from $6B to over $66B since 2023 and Enhanced Equity AUM growing at a 151% CAGR over three years.

• Wealth channel AUM now represents 25% of the business, supported by new product launches targeting U.S. taxable investors.

• Global expansion is evident, with 49% of clients now non-U.S., international AUM equaling U.S. AUM, and rapid growth in Asia-Pacific and Europe.

• Nine consecutive quarters of positive net client cash flows, with net flows representing 25% of beginning AUM in 2025 and 12% in Q1 2026.

Investment process and innovation

• Maintains a 40-year track record, delivering 4.1% annualized excess return over benchmark (revenue-weighted) in the last five years, with 96% of assets outperforming benchmarks.

• Investment process is highly data-driven, leveraging hundreds of millions of daily observations, proprietary models with hundreds of differentiated signals, and coverage of 65,000 securities globally.

• AI and advanced analytics are deeply embedded, with a dedicated team of 70 focused on data infrastructure and ongoing integration of AI for research and workflow efficiency.

• Systematic Credit is a strategic focus, leveraging existing equity infrastructure for scalable, diversified growth and nearing a three-year track record.

• Research culture emphasizes transparency, collaboration, and rigorous vetting of new ideas through a structured committee process.

Financial performance and guidance

• ENI revenue grew from $424M in 2023 to $549M in 2025, with management fees now 94% of revenue and recurring revenues representing 94% of total revenue.

• Operating margin expanded from 28% in 2023 to 35.5% in 2025, with a near-term target of 38%-40% driven by revenue growth and disciplined cost management.

• Operating leverage has improved, with ENI revenue growing at 14% CAGR and operating expenses at 7% CAGR from 2023-2025, supporting positive operating leverage and improved productivity metrics.

• Balance sheet strengthened, with gross leverage reduced from 2.8x to 1.3x and increased liquidity, enabling continued investment and capital returns.

• $1.4B returned to shareholders since 2022 through dividends and share repurchases, with share count reduced by 58%.