Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

JPM wealth and asset management division hits $2trn

JPM wealth and asset management division hits $2trn

JP Morgan Chase reported record assets under management for its asset and wealth management businesses in 2017, riding the back of the stock market rally.

Assets under management for this division, which includes JP Morgan Asset Management, broker-dealer JP Morgan Securities and JP Morgan Private Bank, among other businesses, increased 15% from $1.7 trillion (£1.23 trillion) in 2016 to hit a record $2 trillion for 2017. 

Revenue of $3.4 billion for the division was up 9% for the fourth quarter of 2017 and 7% for the year to almost $13 billion, boosted by higher management fees.

In its fourth quarter and end of year results, the firm reported that net client flows amounted to $93 billion in 2017 with positive flows across fixed income, multi-asset and alternative asset classes. 

Multi-asset and alternatives was the category with the highest AUM, hitting $673 billion in 2017, with flows of $42 billion over the year.

Equity assets saw net outflows of $11 billion in 2017. However, due to market appreciation, equity assets increased 22% to $428 billion. 

Overall the asset management division gained a net $189 billion in 2017 from market performance.

 

 

 

  

 

 

 

 

 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Rathbones' Smith on China's economic hegemony ambitions

Rathbones' Smith on China's economic hegemony ambitions

Discussing China's saving problem, Ed Smith argues that if the country opens up there will be an outflow of capital.

Play Liontrust ESG head says sustainable investment doesn't mean low return

Liontrust ESG head says sustainable investment doesn't mean low return

Peter Michaelis talks about ethical investment growth and where he sees future opportunites.

Play Are platforms the biggest barrier to wealth manager ETF take-up?

Are platforms the biggest barrier to wealth manager ETF take-up?

Citywire hosted a roundtable discussion to find out how and if wealth managers are using ETFs in their clients' portfolios and the challenges they face trading through different platforms.

Read More
Wealth Manager on Twitter