State Street Global Advisors reported $2.468 trillion in assets under management as of Dec. 31, up 2.5% from three months earlier and up 10.8% from a year earlier, parent company State Street Corp. (STT)'s earnings release said Wednesday.
SSGA experienced total net inflows of $16 billion during the fourth quarter, compared to net outflows of $36 billion during the third quarter and net outflows of $19 billion during the fourth quarter of 2015. Inflows in the quarter were led by $29 billion in net inflows to equities and $5 billion each in fixed income and multiasset-class solutions, offset by $15 billion of net outflows from cash and $8 billion of net outflows from alternatives.
Market appreciation for the quarter was $44 billion.
Equities had $1.474 trillion in AUM as of Dec. 31, up 4.5% from Sept. 30 and up 11.2% from Dec. 31, 2015. Meanwhile, fixed income accounted for $378 billion, down 3.3% from three months earlier but up 21.2% from a year earlier; cash, at $333 billion, down 5.1% from three months earlier and down 9.5% from a year earlier; alternatives, $157 billion, down 7.1% from Sept. 30 but up 15.4% from Dec. 31, 2015, respectively; and multiasset-class solutions, $126 billion, up 0.8% from three months earlier and up 22.3% from 12 months earlier.
Assets under custody and administration were $28.771 trillion, down 1.4% from Sept. 30 but up 4.6% from Dec. 31, 2015.
SSGA's investment management fees totaled $361 million in the fourth quarter, down 1.9% from the previous quarter but up 28% from the year-earlier quarter.
Revenue for the parent company was $2.53 billion for the quarter, down 3.4% from the prior quarter but flat from the year-earlier quarter. State Street's net income was $557 million for the fourth quarter, up 9.9% from the third quarter and up 1.8% from the fourth quarter of 2015.