Investment Managers See Profits Rise, But Technology Costs Are Growing, Too

WatersTechnology Staff
30 Jan 1998

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PIMCO Advisors Holdings, which acquired Oppenheimer Capital last year, saw its earnings rise 44 per cent during the quarter to $66 million. A year earlier, the company earned $45.9 million.

Legg Mason earned $20.7 million in the most recent quarter compared to $15.3 million in the December quarter of 1996. The Baltimore mutual fund company's revenue grew 36 per cent to $227.1 million, from the $167.3 million in revenue it had a year earlier.

The rise in profits reflected the strong performance

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