Epoch Holding Corp.(NADAQ: EPHC) said on Thursday that that its assets under management in its investment arm increased 22 percent during the first three months of 2007.
The firm's Investment Partners unit had assets under management of $5.38 billion as of March 31, an increase of $970 million from a total of $4.41 billion as of Dec. 31.
We saw significant cash flows into our Global Equity Shareholder Yield strategy which is a direct application of finding global companies whose managements are committed to returning their free cash flow to shareholders in the form of high dividends, stock repurchases and debt reductions, said William W. Priest, Chief Executive Officer of the Company.
Epoch also said that it began two new sub-advisory relationships. Skandia Global Funds launched an offshore fund using the firm's U.S. Large Cap Value service and John Hancock Funds launched an open-ended retail mutual fund using its Global Equity Shareholder Yield service.
Shares of Epoch jumped $3.35, or 26.15 percent to $16.16 in afternoon trading on the Nasdaq Stock Market.