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MONEY MANAGEMENT

OMAM’s assets up 2.6% in quarter, 13.2% for year

OM Asset Management reported $240.4 billion in assets under management as of Dec. 31, up 2.6% from Sept. 30 and up 13.2%, from Dec. 31, 2015, said OMAM's earnings statement released Thursday.

The firm attributed the increase in AUM to market appreciation and net inflows. OMAM reported net inflows of $1.5 billion for the quarter ended Dec. 31, compared to net outflows of $2.6 billion for the three months ended Sept. 30 and net outflows of $3.2 billion for the year earlier quarter.

Broken down by strategy, OMAM's total global equities AUM was $96.4 billion as of Dec. 31, up 1% from Sept. 30 and up 13.7% from Dec. 31, 2015; U.S. equities was $82 billion, up 4.5% from three months prior and up 6.6% from 12 months earlier.

Alternative investments, meanwhile, was $48.1 billion, up 5% from Sept. 30 and up 30.4% from Dec. 31, 2015; fixed income was $13.9 billion, down 3.5% from three months earlier but up 0.7% from the same time a year prior.

GAAP net revenue was $186.6 million for the quarter, up 9.2% from the previous quarter and up 14.2% from the year-earlier quarter. Net income attributable to controlling interests was $25.3 million for the fourth quarter, down 25.6% from the third quarter and down 31.4% from the fourth quarter of 2015.