Calamos Asset Management Inc. of Naperville, Ill., has reported that its assets under management grew 15% last year, to $43.8 billion at Dec. 31.
The company said on Monday that revenues rose 24% in the fourth quarter, to $113.5 million, from a year earlier. Operating income grew 35%, to $55 million.
The company reported net income of $8.2 million in the quarter, up 44% from the pro forma number a year earlier. Diluted earnings per share increased 40%, to 35 cents per share.
At Dec. 31, the company managed $31.9 billion in mutual funds and $11.9 billion in separate accounts. Calamos said that the full-year result reflected asset growth of $3.6 billion in net purchases and $2.2 billion of net market appreciation.
John P. Calamos Sr., the company's chairman and chief executive officer, said in a statement that the asset and revenue growth last year benefited from diversification of investment strategies and in the client base. The company will try to widen distribution to institutional investors this year, he said. Institutional assets under management grew 25% last year.
