J.P. Morgan Asset Management on Friday reported $2.016 trillion in assets under management as of March 31, down 0.9% from three months earlier but 9.5% higher than a year earlier.
Institutional AUM totaled $937 billion in the latest quarter, down 3% from the quarter ended Dec. 31 and up 5% from March 31, 2017, according to parent J.P. Morgan Chase's quarterly earnings statement. Retail AUM was $542 billion and private banking client assets totaled $537 billion.
The first quarter saw net outflows of $5 billion, vs. net inflows of $40 billion in the fourth quarter and $9 billion in the year-earlier quarter. By asset class, net inflows of $16 billion went to multiasset and alternatives and $5 billion to equities, while net outflows of $21 billion came from liquidity investments and $5 billion from fixed income.
JPMAM managed $685 billion in multiasset and alternatives strategies as of March 31, up 2% from the previous quarter and up 17% from a year earlier. The firm reported $467 billion in fixed income AUM, down 1% from the end of the previous quarter but up 8% from the end of the year-earlier quarter; $432 billion in liquidity strategies, down 6% from three months earlier and down 3% from 12 months earlier; and $432 billion in equities , up 1% from Dec. 31 and up 14% from the end of the first quarter 2017.