Federated Investors on Thursday reported assets under management of $377.3 billion as of March 31, down 1% from the prior quarter but up 4% from the year before.
In its first-quarter earnings statement, Federated reported equity assets of $37.9 billion, up 8% from the fourth quarter and 11% higher than a year earlier. Net outflows in equities for the latest quarter totaled $98 million, compared with net outflows of $163 million in the previous quarter and net inflows of $611 million in the first quarter of 2012.
Fixed-income assets reached a company record $52.8 billion, up about 0.2% from the prior quarter and up 14% from the year before. Net fixed-income inflows for the latest quarter were $25 million, compared with net inflows of $848 million in the previous quarter and net inflows of $775 million in the year-earlier quarter.
Federated's total money market assets came to $279.7 billion, down 2% from three months earlier and an increase of 2% from a year ago. Money market mutual fund assets were $242.7 billion, down 5% from Dec. 31 and 1% less than a year earlier.
Revenue in the first quarter was $228 million, down 7% from three months earlier and 1% below the year-earlier quarter.
Net income for the quarter came to $43 million, down 13% from the fourth quarter but up 1.7% from the first quarter 2012.