Calamos Asset Management reported assets under management of $26.6 billion as of June 30, a 9% drop from March 31 and a 25% drop from a year earlier, according to the company's earnings release.
The firm saw net outflows of $2.3 billion in the second quarter, resulting primarily from outflows in U.S. growth strategies and lower-volatility equity strategies, the company said. The net outflows were slightly less than the previous quarter, when Calamos reported $2.5 billion in net outflows, but up from the $851 million in net outflows the company reported in the second quarter of 2012.
Revenue of $66.7 million in the most recent quarter was a 6% drop from first quarter of 2013 and 24% below the year-earlier quarter.
Net profit of $16.5 million for the second quarter was down 33% from the prior quarter and 30% lower than the year-earlier quarter.