J.P. Morgan Asset Management on Tuesday reported $2.18 trillion in assets under management as of June 30, up 3.9% from three months earlier and 7.4% from a year earlier.
Institutional AUM totaled $991 billion in the latest quarter, up 5% from the previous quarter, and up 6% from the second quarter of 2018, according to parent J.P. Morgan Chase & Co.'s quarterly earnings statement. Retail AUM was $570 billion and private banking client assets totaled $617 billion.
JPMAM experienced net inflows in the second quarter of $40 billion and performance gains of $42 billion, compared to net inflows of $5 billion and performance gains of $104 billion in the previous quarter. In the year-earlier quarter, JPMAM had net inflows $21 billion, offset by performance losses of $9 billion.
"In asset and wealth management, AUM and client assets grew 7%, both due to higher asset values and net inflows into long-term and liquidity products," Chairman and CEO Jamie Dimon said in a news release about the firm's second-quarter results.
By strategy, the firm managed $713 billion in multiasset and alternative assets as of June 30, up 2.1% from the three months ended March 31 and up 2.9% for the year. Flows were flat in the second quarter, compared to $3 billion in net outflows during the three months ended March 31 and net inflows of $9 billion during the year-earlier quarter.