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Money Management

Federated Investors’ AUM drops in quarter on equity, fixed-income outflows

Federated Investors (FII) reported $392.2 billion in assets under management as of March 31, down 1.4% from Dec. 31, but up 8.4% from a year earlier, the company said in its first-quarter earnings statement released Thursday.

Federated's equity assets fell to $64 billion as of March 31, down 6.1% from the end of the prior quarter and down 1.2% from March 31, 2017. Net equity outflows totaled $2.2 billion, compared to $903 million for the fourth quarter and $1.4 billion for the first quarter of 2017.

The money manager's fixed-income AUM also dropped, to $62.25 billion as of March 31, down 3.1% from Dec. 31 and up 20.2% from a year earlier. Net fixed-income outflows for the first quarter totaled $1.7 billion, compared to net inflows of $11.1 billion in the fourth quarter and net outflows of $326 million in the first quarter of 2017.

Money market AUM as of March 31 totaled $265.9 billion, up 0.3% from the end of the previous quarter and up 8.5% from a year earlier.

Total revenue for the quarter was $263.9 million, down 5.2% from the prior quarter and down 3.5% from the year-earlier quarter. Net income for the first quarter was $60.3 million vs. $131.8 million during the fourth quarter and $49.6 million during the first quarter of 2017.