Artisan Partners Asset Management had $113.8 billion in assets under management as of June 30, up 5.6% from March 31, but down 0.4% from June 30, 2018, the money manager reported Tuesday.
The company attributed the quarterly increase to $6.5 billion in market appreciation partially offset by $500 million in net outflows, while the annual decrease to $8.1 billion in net outflows partially was offset by $7.7 billion in market appreciation.
In a news release announcing the firm's earnings, Artisan said its international and global value teams, split from a single group last year, are functioning well.
"We knew that consultants and clients would not be able to easily compare the reorganization to other industry examples," Artisan Chairman and CEO Eric Colson said in the news release. "That's because our structure is uniquely focused on managing talent over the long term."
The company reported $200.7 million in revenue for the second quarter, up 7% from the previous quarter and up 5% from the second quarter of 2018. GAAP net income, meanwhile, was $39.2 million for the quarter, compared to net income of $31.5 million for the previous quarter and $42 million for the second quarter of 2018.
