Federated Investors reported $355.8 billion in assets under management as of March 31, down 2% from three months earlier and down 3% a year earlier, said its first-quarter earnings release Thursday.
Federated's equity assets were a record $54 billion as of March 31, up 5% from Dec. 31, the previous record, and up 18% year-over-year.
Equity net inflows totaled $1.6 billion in the first quarter, and market gains totaled $942 million. The previous quarter saw net inflows of $576 million and market gains and reinvestments of $522 million.
Fixed-income assets totaled $53.6 billion at the end of the first quarter, up 2% from the end of previous quarter and up 5% from March 31, 2014.
Net fixed-income inflows totaled $333 million for the quarter and market gains totaled $559 million vs. $1.4 billion and $163 million in net inflows and market gains and reinvestments, respectively, the previous quarter.
Money market assets totaled $248.2 billion as of March 31, down 4% from Dec. 31 and down 6% a year earlier.
For the quarter, total revenue was $220.5 million, up 1% from the previous quarter and up 4% from the first quarter of 2014.
Net income for the first quarter was $36.3 million, up 8% from the previous quarter and up 3% year-over-year.