OM Asset Management reported $218 billion in assets under management as of March 31, up 2.6% from Dec. 31 but down 2.7% from a year earlier, said the firm's earnings statement released Thursday.
The firm attributed the quarterly increase in AUM to market appreciation and net inflows.
OMAM reported net inflows of $2.4 billion for the three months ended March 31, compared to net outflows of $3.2 billion for the three months ended Dec. 31 and net outflows of $200 million for the three months ended March 31, 2015.
Broken down by strategy, OMAM's total U.S. equities AUM was $78.6 billion as of March 31, up 2.2% from Dec. 31 but down 8% from March 31, 2015; total global equities was $88.3 billion, up 4.1% from three months prior but flat from 12 months earlier. Alternative investments, meanwhile, were $37 billion, flat from Dec. 31 but up 5.4% from March 31, 2015; fixed income was $14.1 billion, up 2.2% from the end of the previous quarter but down 7.8% from the first quarter of 2015.
Net income for the company was $30.8 million for the third quarter, compared to net income of $36.9 million for the fourth quarter and net income of $34.2 million for the first quarter of 2015. Net revenue, meanwhile, was $149.6 million for the quarter, down 8.4% from the quarter ended Dec. 31 and down 6.8% from the year-earlier quarter.
