State Street Global Advisors had $2.48 trillion in assets under management as of June 30, up 4.2% from three months earlier and 15.6% higher than a year ago, said parent company State Street Corp. (STT)'s earnings announcement Tuesday.
The biggest gains for the three months were in multiasset strategies, up 12.8% from March 31 and up 26% from a year earlier, to $150 billion; equities, up 5% in the quarter and 19.7% for the 12 months, to $1.432 trillion; and fixed income, at $352 billion, up 4.8% from three months prior and up 8.6% from 12 months ago. Total assets under custody and administration were $28.4 trillion, up 3.4% from March 31 and up 10.3% from June 30, 2013.
SSgA's investment management fees totaled $300 million for the quarter ended June 30, up 2.7% from the previous quarter and up 8.3% from the year-earlier quarter.
State Street Corp. reported net income for the latest quarter of $602 million, compared to $356 million in the previous quarter and $571 million in the year-ago quarter.
State Street's revenue, meanwhile, reached $2.6 billion in the second quarter, up 4.4% from the first quarter and up 1.6% from the second quarter of 2013.