(November 21 – 10:15 ET) – YMG Capital Management Inc. is announcing improved results for the third quarter.

Year to date earnings per share is up to 17¢ in 2000 from 8¢ in 1999. YMG announced net income after tax of $578,000, up from $202,000 last year. Net income after tax for the nine months is $2.3 million, up from $1 million.

Assets under management were $14 billion at September 30, compared to $11.7 billion at December 31, 1999 and $10 billion at September 30, 1999.

Fee revenue for the quarter was up 23% over the same quarter in 1999, and it realized an investment gain of $296,000. These sales increased the aggregate gains from the liquidation of portfolio investments for the nine months to $3.6 million.

During the quarter, YMG acquired AlphaQuest Capital Management, with approximately $650 million in assets under management. On closing, it paid $1.4 million in cash and issued 200,000 common shares. If certain client retention targets are achieved, it may be required to issue up to an additional 350,000 common shares in years 2002 and 2003.

The board has authorized payment of the fourth quarter dividend of 5¢ a share on December 29.
-IE Staff