
Affiliated Managers Group: A Unique Asset Management Play. Undervalued Gem?
💼 Affiliated Managers Group (AMG) operates as a boutique asset management firm, acquiring stakes in various investment firms.
💰 The company generates substantial free cash flow due to its asset-light business model and high return on capital.
📈 AMG has been actively repurchasing its shares, indicating management's belief in its undervaluation.
🎯 A strategic shift towards private equity firms is aimed at mitigating the impact of passive management trends.