Affiliated Managers Group Inc

AMG: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$417.00	Pymsldz	Mwgpyzljv

Market Selloff Affects Both Flows and AUM at Affiliated Managers Group in Q3; Expect to Lower FVE

Greggory Warren

Nov 7, 2022

While there was little in narrow-moat-rated Affiliated Managers Group's third-quarter results that would alter our long-term view of the firm, we do expect to lower our fair value estimate slightly as equity and credit markets are likely to be weaker in the near term than we had previously projected. We view the shares as being modestly undervalued relative to our revised fair value estimate.

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