United Asset Management experienced a $3.8 billion net loss in assets under management in the second quarter, a 1.7% decrease, the company reported.
During the quarter, UAM lost $4.3 billion in client assets, offset by $500 million in investment gains. Assets under management for UAM's 50 money management firms stood at $210.1 billion at the end of the second quarter, down from $213.9 billion three months earlier.
Clients withdrew $4.7 billion from UAM's 50 firms during the first quarter, but that loss was offset by $19 billion in investment gains.
