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MONEY MANAGEMENT

Federated Investors’ AUM dips 1% in quarter, 2% for year

Federated Investors (FII) reported $361.7 billion in assets under management as of March 31, down 1% from Dec. 31 and down 2% from a year earlier, said its first-quarter earnings release Thursday.

Federated's equity assets reached a record $64.8 billion as of March 31, up 4% from Dec. 31 and up 15% from March 31, 2016. Net equity outflows totaled $1.4 billion in the first quarter, vs. net outflows of $938 million in the fourth quarter and net inflows of $2 billion in the first quarter of 2016.

The firm's fixed-income assets were $51.8 billion as of March 31, up 1% from both the end of the previous quarter and the same time a year prior. Net outflows for fixed income totaled $481 million for the quarter, compared to net inflows of $80 million for the previous quarter and net outflows of $131 million for the same time a year prior.

Money market assets were $245.2 billion, down 3% from three months prior and down 6% from a year before.

Total revenue for the quarter was $273.5 million, down 6% from the prior quarter but up 1% from the year-earlier quarter. Net income for the quarter was $49.6 million, down 11% from the fourth quarter but up 9% from the first quarter of 2016.