Federated Investors reported client assets of $389.3 billion as of Dec. 31, down 1% from the prior quarter and down 4% from the year before, as outflows from the firm’s money market funds outpaced inflows into its fixed-income and equity strategies, according to the company’s latest earnings report.
Federated reported money market assets of $313.3 billion, down 2% from the prior quarter and 12% less than the year before. The company’s fixed-income assets came to $33.8 billion, up 6% from the prior quarter and 44% higher than the previous year. Equity assets came to $29.7 billion, up 2% from the prior quarter and 11% greater than the year before.
For the latest quarter, long-term inflows to stock and bond strategies came to $1.2 billion, down from $1.9 billion three months earlier. The year-earlier quarter saw net outflows from those strategies of $1.5 billion.
For the latest quarter, Federated reported net income of $51.9 million, down 9% from the prior quarter and 4% less than the year before. Total revenues, meanwhile, came to $264.8 million, down 10% from the prior quarter and down 12% from the year before.