Federated Investors on Thursday reported assets under management of $366.1 billion as of March 31, down 2.7% from the previous quarter and down 3% from a year earlier.
Federated's total equity assets as of March 31 totaled $45.9 billion, a 4.1% increase from the previous quarter and a 21.1% increase from the previous year.
Equity returns accounted for about two-thirds of the increase, with $1.2 billion in market gains and reinvestments, while net inflows accounted for $526 million.
Fixed-income assets also increased to $51 billion, a 1.8% increase from the previous quarter, but down 3.4% from the previous year.
Fixed-income market gains and reinvestments totaled $671 million, while net inflows totaled $245 million.
Money market assets in both mutual funds and separate accounts totaled $263.6 billion as of March 31, down 4.5% from the previous quarter and down 5.8% from a year earlier.
Liquidation portfolio assets totaled $5.7 billion as of March 31, down 3.4% from a quarter earlier and down 18.6% from the previous year.
Revenue for the first quarter totaled $211.5 million, down 1.5% from the previous quarter and down 7.2% from the previous year. Net income for the first quarter was also down 14.1% from the previous quarter — to $35.2 million — and down 18.1% from a year earlier.
