BrightSphere Investment Group's assets under management fell 20.8% in the quarter ended March 31 to $161.8 billion, the company announced in its earnings statement Thursday.
Total AUM was also 27.2% below the $222.3 billion the company reported as of March 31, 2019.
The drop during the first quarter was attributed to $43.5 billion in market depreciation and $100 million in alternative asset distributions, partially offset by $1 billion in net inflows.
In BrightSphere's quantitative and solutions segment, assets under management totaled $79 billion as of March 31, down 22.5% from three months earlier and down 16.9% from a year earlier.
In liquid alpha, AUM totaled $58.5 billion as of March 31, down 25.7% from Dec. 31 and down 44.7% from March 31, 2019. In alternatives, AUM totaled $24.3 billion as of March 31, up 2.1% from three months earlier and up 1.3% year-over-year.