Artisan Partners Asset Management had $114.2 billion in assets under management as of June 30, down 0.5% from the end of the previous quarter but up 4.4% from a year earlier, the company said Tuesday in its quarterly financial statement.
Net outflows continued in the second quarter, but at a slower pace than the first three months of 2018, according to the company. Net outflows for the quarter ended June 30 were $339 million vs. $603 million in the first quarter and $1.5 billion in the second quarter 2017.
Additionally, a loss of $287 million in AUM was the result of market depreciation, Artisan Partners said.
First-quarter revenue was $212 million, unchanged from the previous quarter but up 8.2% from the quarter ended June 30, 2017. Net income under GAAP of $42 million compares to net income of $41.3 million in the first quarter and net income of $26.6 million a year earlier.
Most of the quarterly outflows came from Artisan Partners’ midcap equity strategy but were partially offset by inflows in the firm’s thematic and credit portfolios, Charles Daley Jr., executive vice president, chief financial officer and treasurer, said in a Wednesday conference call.