Author: Maclintosh Kuhlengisa
123jump.com
Last Update: 3:37 PM EST February 19 2001
The asset management firm realised a 12% drop in net income to $154.6 million or $1.07 a share from $174.6 million or $1.21 a share in 2006 after adjusting for a liquidity charge of $23 million or 16 cents a share as the market remained volatile. The decline in the equity markets was harsh and caused substantial investor worry. The bond markets continued to show significant strain, with little reaction to government stimulation.
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