UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 |
FORM 8-K |
CURRENT REPORT |
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Date of Report (Date of Earliest Event Reported): May 7, 2018 |
PZENA INVESTMENT MANAGEMENT, INC. | ||
(Exact Name of Registrant as Specified in its Charter) |
Delaware | 001-33761 | 20-8999751 | |||||||
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification Number) | |||||||
320 Park Avenue, New York, New York | 10022 |
(Address of Principal Executive Offices) | Zip Code |
Registrant’s Telephone Number, Including Area Code: (212) 355-1600 | |||||||||
(Former Name or Former Address, If Changed Since Last Report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: o Written communications pursuant to Rule 425 under the Securities Act. o Soliciting material pursuant to Rule 14a-12 under the Exchange Act. o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act. o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act. |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company o | |||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o | |||||
ITEM 8.01 | OTHER EVENTS. |
ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS. |
Pzena Investment Management, Inc. | |||
Dated: May 7, 2018 | By: | /s/Jessica R. Doran | |
Name: Jessica R. Doran | |||
Title: Chief Financial Officer | |||
As of | As of | As of | |||||||||||||||||||||
April 30, 2018 | March 31, 2018 | April 30, 2017 | |||||||||||||||||||||
Account Type2 | |||||||||||||||||||||||
Separately Managed Accounts | $ | 15.0 | $ | 14.6 | $ | 13.2 | |||||||||||||||||
Sub-Advised Accounts | 22.0 | 21.3 | 17.7 | ||||||||||||||||||||
Pzena Funds | 1.9 | 1.8 | 1.4 | ||||||||||||||||||||
Total | $ | 38.9 | $ | 37.7 | $ | 32.3 | |||||||||||||||||
Investment Strategy | |||||||||||||||||||||||
U.S. Value Strategies | |||||||||||||||||||||||
Large Cap Value | $ | 10.8 | $ | 10.5 | $ | 9.7 | |||||||||||||||||
Mid Cap Value | 2.9 | 2.9 | 2.5 | ||||||||||||||||||||
Value | 2.1 | 2.1 | 2.0 | ||||||||||||||||||||
Small Cap Value | 1.5 | 1.5 | 1.5 | ||||||||||||||||||||
Other U.S. Strategies | 0.2 | 0.2 | 0.1 | ||||||||||||||||||||
Total U.S. Value Strategies | 17.5 | 17.2 | 15.8 | ||||||||||||||||||||
Global & Non-U.S. Value Strategies | |||||||||||||||||||||||
Global Value | 6.8 | 6.6 | 5.0 | ||||||||||||||||||||
International Value | 6.4 | 6.2 | 5.3 | ||||||||||||||||||||
Emerging Markets Value | 4.7 | 4.5 | 3.4 | ||||||||||||||||||||
European Value | 3.2 | 3.1 | 2.6 | ||||||||||||||||||||
Other Global & Non-U.S. Value Strategies | 0.3 | 0.1 | 0.2 | ||||||||||||||||||||
Total Global & Non-U.S. Value Strategies | 21.4 | 20.5 | 16.5 | ||||||||||||||||||||
Total | $ | 38.9 | $ | 37.7 | $ | 32.3 | |||||||||||||||||
Account Domicile | |||||||||||||||||||||||
U.S. | $ | 25.7 | $ | 25.1 | $ | 22.1 | |||||||||||||||||
Non-U.S. | 13.2 | 12.6 | 10.2 | ||||||||||||||||||||
Total | $ | 38.9 | $ | 37.7 | $ | 32.3 | |||||||||||||||||
1 Numbers may be subject to rounding. | |||||||||||||||||||||||
2 Beginning January 2018, the Company changed the classification of assets under management ("AUM") to better reflect the composition of its client base. The Company now groups its assets into three new categories: Separately Managed Accounts, Sub-Advised Accounts, and Pzena Funds, which better illustrate the characteristics inherent in its client relationships. Historical data has been reclassified for all periods presented and did not impact reported totals of AUM. |