Bank of New York Mellon reported $1.2 trillion in combined assets under management for its BNY Mellon Asset Management and its wealth management arm as of Sept. 30, down 6% from the previous quarter and up 5% from the year before.
For the quarter, the company reported $4 billion in net inflows for its long-term products. In the second quarter, the company had reported net inflows of $32 billion in its long-term products.
Investment management-related revenue for the third quarter came to $729 million, down 6% from the previous quarter and up 5% from a year earlier.
