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Money Management

Voya Financial’s assets up 3.5% for quarter; net inflows total $1.1 billion

Voya Financial's assets under management totaled $311.4 billion as of Sept. 30, up 3.5% from three months earlier and up 10% from a year prior, the money manager said in its earnings report released Tuesday.

Assets under administration for the company were $229.3 billion as of Sept. 30, up 6.2% from June 30 and up 16.4% from Sept. 30, 2016.

Voya's retirement segment had net inflows of $1.1 billion in the quarter, compared with net inflows of $280 million in the second quarter and net inflows of $1.4 billion in the third quarter of 2016.

Voya Financial posted net income of $148.6 million in the third quarter, down 11.1% from the second quarter and vs. a net loss of $248.1 million for the third quarter of 2016.

Total operating revenue was $2.24 billion, up 1% from both the previous quarter and the same period a year earlier.