J.P. Morgan Chase on Thursday reported assets under management of $1.342 trillion as of June 30, up 0.9% from the previous quarter and 16% above last year.
Net inflows for J.P. Morgan Asset Management totaled $3 billion in the latest quarter, with inflows of $19 billion to long-term products offset by $16 billion of outflows from liquidity products, according to second-quarter results. In the first quarter, inflows were $18 billion, with record three-month long-term product inflows of $27 billion offset by $9 billion of liquidity outflows.
For the year-earlier quarter, the company reported net outflows of $16 billion.
As of June 30, J.P. Morgan Asset Management reported $476 billion in liquidity assets, down 3% from both the prior quarter and the year-earlier quarter; $430 billion in equities and multiasset assignments, up 2% and 34%, respectively; $319 billion in fixed income, up 5% and 23%; and $117 billion in alternatives products, up 3% and 29%.
By client type, J.P. Morgan Asset Management reported the strongest growth for its retail assets, with $343 billion, up 5% from the prior quarter and up 36% from the year before. Institutional assets of $708 billion were basically flat from the prior quarter but up 9% from the year before, while high-net-worth assets of $291 billion were down 1% from the prior quarter and 13% higher than the year before.
Revenue for the second quarter came to $2.537 billion, up 5% from the first quarter and 23% higher than the year-earlier quarter.
Net revenue for JPMAM, meanwhile, came to $439 million, down 6% from the prior quarter but up 12% from the year before.
