Federated Investors on Thursday reported assets under management of $366.7 billion at Sept. 30, up 0.8% from June 30 and up 0.7% from the same period the year prior.
Equity assets for the quarter were $40.3 billion, up 4% from the previous quarter and up 14% from the third quarter of 2012, according to the company’s earnings statement. Net outflows in equities in 2013’s third quarter totaled $542 million, compared to net inflows of $383 million in the second quarter and net inflows of $486 million in 2012’s third quarter.
Federated’s fixed-income assets totaled $50 billion as of Sept. 30, unchanged from the amount reported at June 30 and down 3% from Sept. 30, 2012. Net fixed-income outflows for the quarter were $321 million, compared with net outflows of $1.81 billion for the quarter ended June 30 and net inflows of $1.5 billion in the year-earlier quarter.
Federated had $270.3 billion in money market assets as of Sept. 30, up 0.7% for the quarter and 0.3% higher than the third quarter of 2012.
Revenue was $211.9 million in the third quarter, down 5% from the second quarter and down 11% from the year-earlier quarter.
Net income for the quarter was $37.7 million, down 32% from the second quarter and down 7% from the third quarter 2012.