Affiliated Managers Group on Monday reported $599.9 billion in assets under management as of March 30, down 17% from Dec. 31 and down 22.5% from a year earlier, the company reported in its quarterly earnings statement.
Total net outflows during the first quarter were $13.8 billion, compared to net outflows of $11.3 billion the previous quarter and net outflows of $7.4 billion in first quarter of 2019.
During the first quarter, more than 90% of AMG's net outflows were from certain quantitative strategies across liquid alternatives and long-only equities, Thomas M. Wojcik, chief financial officer, said during the company's quarterly earnings call.
AMG's institutional business, which had $347.8 billion in assets as of March 31, experienced $5.6 billion in net outflows during the first quarter, an investor presentation from the company showed. The company's retail business, which had $149.9 billion in assets, saw $7.4 billion in net outflows, while net outflows from high-net-worth clients, which represent $102.2 billion in assets, were $800 million during the first quarter.
