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$AMG's revenue for 1Q16 decreased by 14% from last year. This decrease was the result of a 16% drop in asset-based fees at existing Affiliates due to a 14% decline in average assets under management which reduced asset-based fees $83.5MM and a decline in its ratio of average fee rates which reduced asset-based fees $15.5MM.
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.