BrightSphere Investment Group reported $237.7 billion in assets under management as of Sept. 30, up 1.5% from June 30 and 0.8% higher than a year earlier, said the company's earnings statement released Thursday.
BrightSphere had net outflows of $2.6 billion in the third quarter, vs. net outflows of $4.1 billion in the second quarter and net outflows of $500 million for the year-earlier quarter.
In its earnings release, BrightSphere attributed the third-quarter outflows to U.S. equity subadviser withdrawals and client rebalancing.
The quarterly outflows were more than offset by $6 billion in market appreciation.
Stephen Belgrad, president and CEO, said in a conference call Thursday that the increase in market appreciation in the quarter put BrightSphere "back performing in line with what we want to achieve."