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Money Management

Artisan Partners’ AUM down 0.6% in quarter, but rises 10.6% for year

Artisan Partners (APAM) Asset Management had $114.8 billion in assets under management as of March 31, down 0.6% from the end of the previous quarter but up 10.6% from the end of the first quarter 2017, the company said Wednesday in its earnings release.

Net outflows of $603 million in the first quarter compare to net outflows of $2.5 billion in the fourth quarter and $272 million in the year-ago quarter.

First-quarter revenue was $212 million, up 0.6% from the previous quarter and 15.2% higher than the three months ended March 31, 2017. Net income under GAAP of $41.3 million compares to a net loss of $27.5 million in the fourth quarter and net income of $19.8 million in the first quarter of 2017.