Strong Financial Performance: MSCI Inc. reported revenue growth of over 9% and adjusted EBITDA growth of over 10% in Q2 2025. Adjusted earnings per share grew nearly 15%, and the company generated over $300 million in free cash flow. Year-to-date, the company has repurchased $286 million worth of shares at an average price of $557, indicating strong confidence in its value.
Asset-Based Fees (ABF) Growth: ABF run rate surged by 17%, primarily driven by record assets under management (AUM) in ETFs linked to MSCI indices. Equity index ETF AUM surpassed $2 trillion for the first time, showcasing the company’s strong performance in non-US markets and the increasing importance of indices in global investing.
Challenges with Active Asset Managers: The subscription run rate for active asset managers grew only by 6%, indicating ongoing struggles in that sector. Market pressures, budget constraints, and a slow recovery in flows for these asset managers impact potential revenue growth, and MSCI does not foresee rapid improvement in this area over the near term.
"Where are they all goin' to?" the Reverend Taylor asked in plaintive dismay. He had risen to his feet because he had seen Cairness do it, and now he sat again because Cairness had dropped back on the couch. He was utterly at sea, but he felt that the safest thing to do would be that which every one else did. He remembered that he had felt very much the same once when he had been obliged to attend a funeral service in a Roman Catholic Church. All the purple and fine[Pg 39] linen of the Scarlet Woman and the pomp and circumstance surrounding her had bewildered him in about this same way. "But suppose I pay you the value of the blamed old blunderbuss," said Shorty, as a desperate resort, for it was the first time that he had ever thought of a rebel gun having a money value. Spencerian System hisself, but he ain't once with you. Ide "RUSSELL, that ain't going to heal without a A scar," Alf Russell consoled himself, as he studied his hurt with a little round pocket looking-glass, a screen of bushes concealing him from his unappreciative comrades. "It's more than Monty Scruggs nor Harry Joslyn nor Sandy Baker'll have to show for the fight. It's even more than Gid Mackall has, even though he is knocked out. I ought to be sent to the hospital, too. It'll be something to write home to father and mother, and they'll put it in the paper and the folks'll talk about it. Gracious, there's a bugle blowing again. Wonder what that means?" He even forgot, for a time, about the rumors, the threat of Confederation troops that had hung over her words like a gray cloud: all he could think of was Norma, and the terrible thing in which they were both bound up. They walked for a long while, and by the time they had finally stopped the noise was gone. There was a haze over everything, but through the haze a morning sun shone, and a heavy peace hung over the world. "For sometimes," she said, "I think he does." "It matters little, my lord, whether I do or not," replied the smith, in something of a sullen tone; "whatever I know, I shall keep to myself." "By the green wax!" said he, "you seem to think lightly of Black Jack's promises! What! you would bribe me to betray their secrets, would you? One never thinks of doing well, but some temptation is sure to come across.—Come, come, give me the money—I shall think of what you have said another time.—Come, come, I can hardly speak for very drought!" HoME一级特黄毛片高清免费
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