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Money Management

SSGA’s AUM up 4% for quarter; firm sees $6 billion in inflows

State Street Corp. headquarters in Boston

State Street Global Advisors reported $2.782 trillion in assets under management as of Dec. 31, up 4.1% from three months earlier and up 12.7% from a year earlier, parent company State Street Corp. (STT)'s earnings release said Tuesday.

SSGA experienced total net inflows of $6 billion during the fourth quarter, compared to net outflows of $25 billion during the third quarter and net inflows of $16 billion during the fourth quarter of 2016. Inflows in the quarter were led by $13 billion in net inflows to equities, $12 billion in fixed income and $8 billion in multiasset-class solutions, offset by $21 billion of net outflows from cash and $6 billion of net outflows from alternatives.

Market appreciation for the quarter was $100 billion.

Equities had $1.745 trillion in AUM as of Dec. 31, up 6.4% from Sept. 30 and up 18.4% from Dec. 31, 2016, while fixed income accounted for $414 billion, up 3.8% from three months earlier and up 9.5% from a year earlier.

Meanwhile, cash accounted for $330 billion in assets as of Dec. 31, down 5% from three months earlier and down 1% from a year earlier; alternatives, $146 billion, down 4.6% from Sept. 30 and down 7% from Dec. 31, 2016; and multiasset-class solutions, $147 billion, up 9.7% from three months earlier and up 16.7% from 12 months earlier.

Assets under custody and administration were $33.119 trillion, up 3.1% from Sept. 30 and up 15.1% from Dec. 31, 2016.

SSGA's investment management fees totaled $418 million in the fourth quarter, flat from the previous quarter but up 15.8% from the year-earlier quarter.

Revenue for the parent company was $2.85 billion for the quarter, unchanged from the prior quarter but up 12.5% from the year-earlier quarter. State Street's net income was $334 million for the fourth quarter, compared to net income of $629 million during the third quarter and net income of $557 million for the fourth quarter of 2016.

Net income for the fourth quarter includes a one-time estimated net impact of $270 million associated with the Tax Cuts and Jobs Act.