Affiliated Managers Group reported total assets under management of $632.2 billion as of March 31, up 2% from three months earlier and up 6.4% from a year earlier, the company said in its earnings statement Tuesday.
The company's institutional AUM totaled $360 billion, up 1% from Dec. 31 and up 15.7% from March 31, 2014. Mutual fund AUM, meanwhile, totaled $193.7 billion as of March 31, up 3% from three months earlier and up 10.6% from a year earlier. The remaining AUM is from high-net-worth clients.
Net inflows for the first quarter were $5.3 billion, compared to net inflows of $2.6 billion for the fourth quarter and net inflows of $7 billion for the first quarter of 2014.
“AMG has now generated strong organic growth from net client flows for 20 consecutive quarters,” said Sean M. Healey, chairman and CEO of AMG, in the earnings statement.
Mr. Healey added: “The transaction environment remains highly favorable for us, and we have a growing pipeline of prospective new affiliates, including a broad array of leading traditional and alternative firms around the world.”
Revenue for the quarter ended March 31 was $635 million, down 1% from the previous quarter and up 7% from the year-earlier quarter.
AMG reported net income of $162.1 million for the first quarter, down 6% from the fourth quarter but up 17.5% from the first quarter of 2014.