Federated Investors on Thursday reported $369.7 billion in assets under management as of Dec. 31, up 5.1% from the prior quarter and 3.2% above the year before.
The company’s money market assets came to $285.1 billion, up 4.9% from the prior quarter and up 3.3% from the year before.
Equity assets stood at $30.9 billion, up 10% from the prior quarter on the strength of net inflows of $738 million and market gains of $2.2 billion, and up slightly from $30.8 billion from the year before.
Fixed-income assets came to $44.8 billion, up 4.4% from the prior quarter because of net inflows of $1.5 billion and market gains of just under $400 million, and up 10% from the year before.
Federated also has $8.9 billion in distressed fixed-income securities that the firm is managing through an orderly liquidation.
In a news release, J. Christopher Donahue, Federated’s president and CEO, said a number of the company’s strategies — including its multisector and high-yield bond strategies and its dividend-focused equity strategies — attracted investor interest during the latest year.
For the latest quarter, net income came to $36.9 million, down 3.7% from the prior quarter and down 20% from the year before. The company’s news release noted that continued fee waivers to ensure money market investors enjoy a positive return in an extremely low interest rate environment came to $89 million in the latest period, marginally up from $88.9 million for the prior quarter and up from $60 million for the year-earlier quarter.
Revenues for the quarter came to $216.4 million, up 1.1% from the prior quarter but down 12% from the year before.