Four money managers today reported declines in assets under management for March, chiefly because of declines in equity markets.
Alliance Capital Management Holdings and its money management arm, Alliance Capital Management, reported $534 billion in assets under management, down $11 billion, or 2%, from February. Assets managed in growth and value equity declined by $4 billion each to $118 billion and $195 billion, respectively. Alliance said the decline in AUM should put its first-quarter earnings below "current analyst expectations of 68 cents per Alliance Holding unit," according to a news release. John Meyers, Alliance Capital spokesman, declined to elaborate on the press release.
Janus Capital Group reported $132.2 billion in assets under management, down $2.2 billion, or 1.6%, from February. The decrease was the result of market depreciation, said Blair Johnson, spokesman. Net outflows were $600 million for the month, unchanged from February.
Franklin Resources reported preliminary total assets under management of $412.1 billion, down $3.8 billion, or 0.9%, from a month earlier, said Stacey Johnston, spokeswoman.
Calamos Asset Management reported $38.2 billion in AUM, down $300 million, or 0.8%, from the end of February, said Maryellen Thielen, Calamos spokeswoman. She would not comment on the drop.
