J.P. Morgan Asset Management sees 2.5% rise in assets

JP Morgan

J.P. Morgan Asset Management (JPM) had assets under management of $1.381 trillion as of Sept. 30, up 2.5% from the previous quarter and up 10.1% from the year before, according to parent company J.P. Morgan Chase's third-quarter earnings report issued Friday.

The asset increase of $34 billion was attributed to market increases and net inflows of $4 billion during the third quarter.

Total net inflows of $21 billion to long-term fixed income, equity, multiasset strategies and alternatives offset net outflows of $17 billion from liquidity products such as money market funds, according to the report.

Long-term fixed income saw the greatest increase in net inflows from the previous quarter, to $13 billion from $5 billion, while equity, multiasset strategies and alternatives fell to $8 billion in net inflows from $9 billion the previous quarter.

By asset class, liquidity strategies came to 32.7% of overall assets under management, or $451 billion, down 5.6% from the previous quarter; equity and multiasset strategies were 31.3% of the total, or $432 billion, an increase of 5.1%; fixed income came in at 27.5%, or $380 billion, an increase of 3.3%; and alternatives were 8.5% of the total, or $118 billion, a decrease of 4.9%

Net revenue totaled $2.459 billion, an increase of 3.9% over the previous quarter and 6.2% over the previous year.

Private banking clients accounted for $311 billion, or 22.5% of the total assets under management, and $1.365 billion, or 55.5%, of the overall net revenue.

Institutional clients accounted for $710 billion, or 51.5% of total AUM, and $563 million, or 22.9%, of total net revenue.

Retail clients accounted for $360 billion, or 26% of total AUM, and $531 million, or 21.6%, of total net revenue.

Officials at J.P. Morgan couldn't be reached for comment.