J.P. Morgan Asset Management reported $1.945 trillion in assets under management as of Sept. 30, up 4% from three months earlier and up 10% from a year earlier, said the earnings report Thursday from parent company J.P. Morgan Chase.
The company attributed the year-over-year increase to market returns and inflows into cash and long-term strategies.
JPMAM recorded net inflows of $26 billion in the third quarter vs. net inflows of $2 billion in the second quarter and net inflows of $41 billion in the third quarter of 2016.
Fixed-income strategies accounted for $17 billion in net inflows, while multiasset and alternatives saw $9 billion in net inflows. Liquidity strategies had $5 billion in net inflows. Equity strategies, meanwhile, had $5 billion in net outflows.
Market performance resulted in a $43 billion increase in AUM during the most recent quarter.
In the previous quarter, fixed-income strategies accounted for $2 billion in net inflows, while multiasset and alternatives experienced $10 billion in net inflows. Equity and liquidity strategies had $3 billion and $7 billion, respectively, in net outflows. Market performance accounted for a $33 billion increase in AUM during the three months ended June 30.