State Street Global Advisors had $2.146 trillion in assets under management as of June 30, down 1.4% from the prior quarter but 12.5% higher than the previous year, according to parent company State Street Corp.'s earnings announcement Friday.
SSgA's investment management fees totaled $277 million for the second quarter, up 5.3% from the previous quarter and 12.6% higher than the year-ago quarter. Both gains were attributed to stronger global equity markets and net new business.
For the latest quarter, SSgA's passively managed AUM came to $1.653 trillion, down 1.7% from the previous quarter but up 17% from the second quarter of 2012. Within that total for the latest quarter, ETF-related AUM came to $337 billion, down 4.8% from three months earlier but 10.5% above the year-ago quarter. Actively managed AUM stood at $108 billion as of June 30, down 2.7% from the prior quarter and 5.3% below the previous year. Cash-related AUM stood at $385 billion, up 0.5% from the first quarter and up 0.8% from the year-ago quarter.
Parent company State Street Corp. reported net income for the second quarter of $571 million, 28.9% higher than the previous quarter and up 15.6% from the year-ago quarter.
Parent company revenue, meanwhile, came to $2.6 billion, up 5.1% from the prior quarter and a 5.7% increase from the year before.
Total assets under custody were $25.74 trillion, up 1.3% from three months earlier and up 14.8% from the second quarter of 2012.
