Voya Financial’s assets under management as of Dec. 31 totaled $279 billion, the same as the previous quarter, and up 1.8% from the year before, its earnings report released Wednesday said.
Assets under administration, however, rose to $244.9 billion as of Dec. 31, up 1.6% from three months earlier and up 3.7% from a year earlier.
The company’s retirement segment had AUM net outflows of $202 million in the fourth quarter, compared to net outflows of $66 million the previous quarter and $363 million in net inflows the year-earlier quarter.
Net income for the fourth quarter totaled $1.395 billion, more than triple the net income of $401 million the previous quarter, and up 132% from the fourth quarter of 2013.
Voya Financial is the new name of ING U.S., which spun off last year from its former Dutch parent ING Group NV. The name change of the investment management division to Voya Investment Management from ING U.S. Investment Management was effective May 1.