The following money management firms today announced their fourth-quarter assets under management:
• State Street Global Advisors reported $1.44 trillion in assets under management, up 2.1% from Sept. 30, and up 6.4% from year-end 2004. Asset management fees in the fourth quarter were $213 million, up 13% from the previous quarter and 28% greater than the year-earlier quarter. Fees for 2005 came to $751 million, up 21% from the year before.
• JPMorgan Chase reported $847 billion in assets under management, up 2.3% from the third quarter. For 2005, assets increased 7%, driven largely by net flows into "equity-related products" and market appreciation, according to a news release.
• Mellon Financial Corp. reported record high assets under management of $781 billion, up 2% from the previous quarter and 10.5% higher than the end of 2004. Investment management fees for the fourth quarter were $524 million, up 9.4% from the July-September quarter and up 15% from the fourth quarter of 2004. Fees for 2005 came to $1.9 billion, up 15% from 2004.
• Northern Trust Corp. reported $618 billion in assets under management, a 1.7% increase from the quarter ended Sept. 30, according to a news release. For the year, Northern Trust assets increased by about 8%.
• Bank of New York reported $105 billion in AUM, down from $106 billion at the end of the third quarter. The decrease was in fixed income, according to a news release. For the year, Bank of New York's assets under management increased 2.9%.
