Flows and Assets Under Management:
Average assets under management during the first quarter 2013 were $161.8 billion compared with $155.6 billion during the fourth quarter 2012 and $158.9 billion during the first quarter 2012. At March 31, 2013, JCG’s total assets under management were $163.8 billion compared with $156.8 billion at December 31, 2012 and $164.0 billion at March 31, 2012. The increase in complex-wide assets during the first quarter 2013 primarily reflects net market appreciation of $11.0 billion offset by long-term net outflows of $3.9 billion. Fundamental equity and mathematical equity long-term net outflows totaled $1.8 billion and $2.4 billion, respectively, while fixed income long-term net inflows totaled $0.3 billion.
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Investment Performance:
As of March 31, 2013, 49% of complex-wide mutual funds had a 4- or 5-star Overall Morningstar Rating.
As of March 31, 2013, 57%, 24% and 38% of fundamental equity mutual fund assets ranked in the top half of their Morningstar categories on a one-, three- and five-year total return basis, respectively.
Fixed income mutual funds continue to generate strong long-term relative investment performance with 54%, 74% and 100% of mutual fund assets ranked in the top half of their Morningstar categories on a one-, three- and five-year total return basis as of March 31, 2013.
Mathematical equity relative investment performance has continued to be strong, with 89%, 93% and 82% of strategies surpassing their respective benchmarks, net of fees, over the one-, three- and five-year periods, respectively, as of March 31, 2013.
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