J.P. Morgan Asset & Wealth Management reported $1.876 trillion in assets under management as of June 30, up 2% from three months earlier and up 11% from a year earlier, said the earnings report Friday from parent company J.P. Morgan Chase & Co.
The company attributed the year-over-year increase to market returns and inflows into cash and long-term strategies.
JPMAWM recorded net inflows of $2 billion in the second quarter vs. net inflows of $9 billion in the first quarter and net inflows of $5 billion in the second quarter of 2016.
Fixed-income and multiasset and alternatives strategies accounted for $2 billion and $10 billion, respectively, in net inflows. Equity and liquidity strategies had $3 billion and $7 billion, respectively, in net outflows.
Market performance resulted in a $33 billion increase in AUM during the most recent quarter. In the previous quarter, liquidity, fixed-income, and multiasset and alternatives strategies accounted for $1 billion, $5 billion and $7 billion, respectively, in net inflows. Equity strategies had $4 billion in net outflows. Market performance accounted for a $61 billion increase in AUM during the three months ended March 31.
Of the overall AUM as of June 30, $889 billion was institutional, $499 billion in retail and $488 billion from private banking clients. Institutional AUM was flat from three months earlier and up 9% from a year earlier.
Broken out by asset class, the firm had $612 billion in multiasset and alternatives strategies as of June 30, up 4% from March 31 and up 13% from June 30, 2016; $440 billion in fixed income, up 2% from three months earlier and up 4% from 12 months earlier; $434 billion in liquidity strategies, down 2% from the end of the previous quarter but up 13% from the end of the year-earlier quarter; and $390 billion in equities, up 4% from three months earlier and up 13% from a year earlier.
JPMAWM's net revenue was $3.2 billion, up 4% from the first quarter and up 9% from the same period a year prior. Net income was $624 million for the second quarter, up 62% from the previous quarter and up 20% from the year-earlier quarter.
Assets under custody for the second quarter were $22.13 trillion, up 4% from three months earlier and up 8% from a year earlier.
