Affiliated Managers Group on Monday reported $772.2 billion in assets under management as of June 30, a slight drop of 0.3% from March 31 and a 6.3% decline from a year earlier, the company reported in its quarterly earnings statement.
Total net outflows during the second quarter were $15.1 billion, compared to net outflows of $7.4 billion the previous quarter and net inflows of $4.3 billion in the second quarter.
Institutional net outflows during the three months ended June 30 were $9.7 billion, while net outflows from retail products were $5.5 billion. AMG saw net inflows from high-net-worth clients of $100 million.
The second quarter outflows were "driven primarily by ongoing performance headwinds in quantitative strategies across liquid alternatives and global equities," said Jay C. Horgen, president and CEO, in a statement.
Overall, alternatives saw net outflows of $7.4 billion in the second quarter vs. net outflows of $2.9 billion in the first quarter and net inflows of $2.6 billion in the quarter ended June 30, 2018.
Global equity strategies saw net outflows of $6 billion in the three months ended June 30 vs. net outflows of $3.4 billion in the previous quarter and net inflows of $1.9 billion in the year-earlier quarter. U.S. equities experienced $2.3 billion in net outflows compared to $1.4 billion in net outflows in the first quarter and $400 million in net outflows in the quarter ended June 30, 2018.