Voya Financial Inc.'s assets under management totaled $279.5 billion as of March 31, up 1.9% from three months earlier and up 8.2% from a year earlier, according to its earnings report released on Wednesday.
Assets under administration totaled $234.2 billion as of March 31, down 0.8% from Dec. 31, but up 5.9% from March 31, 2013.
Net income in the first quarter totaled $258 million, down from $548.1 million in the previous quarter of 2013. The company reported a $212 million net loss in the first quarter of 2013.
Total revenue was $2.67 billion for the first quarter, up 13.1% from the previous quarter and up 48.3% from the year-earlier.
Voya Financial is the new name of ING U.S., which spun off last year from its former Dutch parent ING Group NV. The change in name of the investment management division to Voya Investment Management from ING U.S. Investment Management was effective May 1.
