Affiliated Managers Group reported total assets under management of $599.47 billion as of Sept. 30, down 1.2% from three months earlier but up 18% from a year earlier, the company said in its earning statement released Monday.
The company's institutional AUM totaled $345.49 billion, flat from June 30 but up 20.3% from Sept. 30, 2013. Mutual fund AUM, meanwhile, totaled $179.25 billion as of Sept. 30, down 3.3% from three months earlier but up 14.8% from a year earlier.
Net inflows for the third quarter were $5 billion, compared to net inflows of $6.9 billion for the second quarter and net inflows of $10.1 billion for the third quarter of 2013.
“We have generated strong organic growth from positive client cash flows for 18 consecutive quarters … which is especially notable given the muted investor risk appetite observed by the industry generally,” said Sean M. Healey, chairman and CEO of AMG, in the firm's earnings statement.
Mr. Healey added that the firm is “actively engaged in discussions with an array of traditional and alternative firms,” and “uniquely positioned to create meaningful shareholder value through accretive investments in additional new affiliates going forward.”