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Money Management

Artisan reports 1.6% increase in AUM for quarter despite outflows

Artisan Partners (APAM) Asset Management's assets under management totaled $115.5 billion as on Dec. 31, up 1.6% from Sept. 30 and up 19.3% from Dec. 31, 2016, the firm reported Tuesday in its fourth-quarter earnings release.

The quarterly increase was a result of $4.3 billion in market appreciation, which was partially offset by $2.5 billion of net outflows, according to the earnings release. Net outflows for the previous quarter and fourth quarter of 2016 were $1.2 billion and $231 million, respectively.

Revenue was $210.7 million in the fourth quarter, up 3% from the third quarter and up 16% from the fourth quarter of 2016. Artisan's net loss under GAAP was $27.5 million in the fourth quarter vs. net income of $30.7 million in the previous quarter and net income of $19.3 million in the year-earlier quarter.