J.P. Morgan Asset Management's assets under management totaled $1.71 trillion as of Sept. 30, down 4% from three months earlier and unchanged from a year before, said parent company J.P. Morgan Chase's third-quarter earnings report issued Tuesday after the markets closed.
Broken down by asset class, JPMAM had $561 billion in multiasset and alternative strategies in the third quarter; $463 billion in liquidity strategies; $351 billion in fixed income; and $336 billion in equities.
Net outflows for the quarter were $9 billion, with $5 billion in outflows each from liquidity strategies, fixed income and equities, offset by inflows of $6 billion into multiasset and alternative strategies. JPMAM also reported $61 billion in losses from market performance and other conditions. For the previous quarter, JPMAM saw net inflows of $22 billion, with $16 billion of that going to long-term strategies. Net income for JPMAM was $475 million for the third quarter of 2015, up 5% from the previous quarter but down 19% from the same quarter a year earlier. Revenue for the quarter, meanwhile, was $2.9 billion, down 9% from the previous quarter and down 5% from the third quarter of 2014.
Assets under custody for the quarter ended Sept. 30 totaled $19.69 trillion, down 4% from three months earlier and down 7% from Sept. 30, 2014.
