1004434--3/1/2010--AFFILIATED_MANAGERS_GROUP

related topics

{investment, property, distribution}

{competitive, industry, competition}

{acquisition, growth, future}

{stock, price, share}

{tax, income, asset}

{regulation, change, law}

{operation, international, foreign}

{personnel, key, retain}

Our financial results depend on equity market returns and the investment performance of our Affiliates. Our growth strategy depends upon continued growth from our existing Affiliates or upon our making new investments in boutique investment management firms. Our financial results could be adversely affected by the performance of other financial institutions. Historically, equity markets and our common stock have been volatile. Our Affiliates' businesses are highly regulated. Our international operations are subject to foreign risks, including political, regulatory, economic and currency risks. Our Affiliates' autonomy limits our ability to alter their management practices and policies, and we may be held responsible for liabilities incurred by them. The failure to receive regular distributions from our Affiliates would adversely affect us, and our structure results in substantial structural subordination that may affect our ability to make payments on our obligations. The agreed-upon expense allocation under our revenue sharing arrangements with our Affiliates may not be large enough to pay for all of the respective Affiliate's operating expenses. The sale or issue of substantial amounts of our common stock could adversely impact the price of our common stock. The failure to consummate announced investments in new investment management firms could have an adverse effect on our operating results and financial condition. We expect that we will need to raise additional capital in the future, and existing or future resources may not be available to us in sufficient amounts or on acceptable terms. We have substantial intangibles on our balance sheet, and any impairment of our intangibles could adversely affect our results of operations. We and our Affiliates rely on certain key personnel and cannot guarantee their continued service. Our Affiliates' investment management contracts are subject to termination on short notice. Our industry is highly competitive.

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1004434--3/1/2010--AFFILIATED_MANAGERS_GROUP_INC