Artisan Partners (APAM) Asset Management's assets under management totaled $113.7 billion as of Sept. 30, up 4% from three months earlier and up 14% from a year earlier, the firm reported Tuesday in its third-quarter earnings release.
The quarterly increase was the result of $5.4 billion in market appreciation partially offset by $1.2 billion of net outflows, according to the earnings release. Net outflows in the previous quarter and year-earlier quarter were $1.5 billion and $935 million, respectively.
Artisan's net income under GAAP was $30.7 million in the third quarter, up 15.4% from the second quarter and up 60.7% from the third quarter of 2016.
Revenue was $204.6 million in the third quarter, up 4.3% from the previous quarter and up 11.1% from the year-earlier quarter.