J.P. Morgan Chase had $1.171 trillion in assets under management as of June 30, up 5% from the prior quarter but down 1% from the year before, the company announced today.
Net inflows for the latest quarter came to $3 billion, while inflows for the 12 months through June 30 came to $125 billion, with liquidity inflows almost sufficient to offset the past year's declines in market valuations and outflows from non-liquidity products, according to a news release.
In the first quarter, net inflows came to $15 billion. Pretax profit margins for the firm's asset management business came to 29% for the latest quarter, rebounding from 22% for the prior quarter but down from 31% for the year-earlier period.
Net asset management revenue came to $1.98 billion for the three months ended June 30, up 16% from the prior quarter but down 4% from the year before. Net income, meanwhile, came to $352 million, up 57% from the first quarter but off 11% from the year-earlier quarter.
