Affiliated Managers Group Inc., a Boston fund company, said Wednesday that it had expanded assets under management by 4.5% during the second quarter, to nearly $138 billion.
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Assets under management were up 6.2% from Dec. 31, it said.
Quarterly net income rose 38.6%, to $26.2 million, on revenue that was up 31.3%, to $208.3 million, compared with the year earlier.
Net client cash flows in the quarter were about $2.6 billion; net inflows in the mutual fund and institutional channels were $2.1 billion and $790 million, respectively; and the high-net-worth channel had $348 million of outflows.
