OM Asset Management reported $234.2 billion in assets under management as of Sept. 30, up 7% from June 30 and up 12.2% from a year earlier, said the firm's earnings statement released Wednesday.
The increase in AUM reflects the addition of $8.8 billion from the 60% stake it took in Landmark Partners that closed in the quarter and net market appreciation of $9.2 billion.
OMAM reported net outflows of $2.6 billion for the three months ended Sept. 30, compared to net outflows of $2.9 billion for the three months ended June 30, 2016 and net outflows of $2.5 billion for the three months ended September 30, 2015.
Broken down by strategy, OMAM's total global equities AUM was $95.5 billion as of Sept. 30, up 7.3% from three months earlier and up 16% from a year earlier, and U.S. equities totaled $78.5 billion, flat from June 30 but up 4.5% from Sept. 30, 2015. Alternative investments, meanwhile, were $45.8 billion, up 24% from June 30 and up 25.5% from Sept. 30, 2015; fixed income was $14.4 billion, flat from the end of the prior quarter but a 2% decline from the end of the year-earlier quarter.
Revenue for the company was $170.8 million for the quarter, up 9.1% from the quarter ended June 30 and up 5.6% from the year-earlier quarter. Net income, meanwhile, was $34 million for the third quarter, down 6.3% from the second quarter and down 2.9% from the same quarter a year ago.
