J.P. Morgan Chase & Co.'s asset and wealth management division reported assets under management of $3.11 trillion as of Dec. 31, the end of the company's fourth quarter 2021, up 3.9% from the end of the third quarter and 14.6% higher year-over-year.
The fourth-quarter AUM was a new record high for the firm, a J.P. Morgan Chase spokesman said.
The 12-month AUM increase was driven "by cumulative net inflows, as well as higher market levels," according to the company's earnings report released Friday.
By asset type, net inflows into equities in the latest quarter totaled $18 billion, while net inflows into multiasset products and alternatives amounted to $6 billion and $10 billion, respectively. Net inflows into fixed income were flat.In addition, "market performance and other impacts" contributed to net inflows of $63 billion for the quarter, while another $20 billion in net inflows was attributed to liquidity products, the report added.