J.P. Morgan Asset Management’s assets under management totaled $1.76 trillion as of March 31, up 1% from three months earlier and up 7% from a year before, said parent company J.P. Morgan Chase’s first-quarter earnings report issued Tuesday.
Broken down by asset class, JPMAM had $566 billion in multiasset and alternatives in the first quarter; $454 billion in liquidity strategies; $380 billion in equities; and $359 billion in fixed income.
Net inflows for the quarter were $15 billion, driven by net inflows of $16 billion to long-term products and net outflows of $1 billion from liquidity products. Net inflows for the fourth quarter of 2014 were $37 billion, driven by net inflows of $27 billion to liquidity strategies and net inflows of $10 billion to long-term strategies.
Jamie Dimon, J.P. Morgan Chase chairman and CEO, said in the report that money management “generated strong investment performance” for the quarter.
Net income for JPMAM was $502 million for the first quarter of 2015, down 7% from the previous quarter but up 11% for the same quarter a year earlier. Revenue for the quarter, meanwhile, was $3 billion, down 6% from the previous quarter but up 7% from the first quarter of 2014.
Assets under custody for the quarter ended March 31 totaled $20.56 trillion, flat from three months earlier and down 3% from March 31, 2014.