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Money Management

Artisan Partners AUM inches up 2.1% in quarter despite more outflows

Artisan Partners (APAM) Asset Management had $116.6 billion in assets under management as of Sept. 30, up 2.1% from the end of the previous quarter and 2.6% higher than a year earlier, the company said Tuesday in its quarterly financial statement.

Market appreciation added $3.9 billion in assets in the latest quarter, Artisan Partners said.

However, net outflows for the quarter ended Sept. 30 were $1.5 billion, vs. net outflows of $339 million in the first quarter and $1.2 billion in the third quarter 2017.

Third-quarter revenue was $212.8 million, up 0.3% from the previous quarter and 4% higher than the quarter ended Sept. 30, 2017.

Net income under GAAP of $42.5 million was 1.2% above $42 million in the previous quarter and 38.4% higher than $30.7 million in the year-over-year quarter.