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October 20, 2015 01:00 AM

BNY Mellon AUM down 4.4% for quarter, flat for year

James Comtois
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    Bloomberg

    Bank of New York Mellon reported $1.625 trillion in combined assets under management as of Sept. 30 for its BNY Mellon Investment Management and wealth management businesses, down 4.4% from three months earlier and flat from a year prior.

    In its earnings statement Tuesday, the company said long-term net outflows totaled $5 billion in the third quarter, driven by outflows of $10 billion from index strategies, $4 billion from equities and $3 billion from fixed income. The outflows were partially offset by $11 billion in net inflows in liability-driven investments and $1 billion into alternatives.

    Short-term net outflows totaled $10 billion.

    For the previous quarter, long-term net outflows totaled $16 billion and short-term net outflows, $11 billion. In the year-earlier quarter, long-term net inflows were $14 billion, while short-term net inflows totaled $18 billion.

    Investment management and performance fees during the quarter ended Sept. 30 were $829 million, down 6% from both the previous quarter and the year-earlier period.

    Parent Bank of New York Mellon reported $28.5 trillion in assets under custody and administration as of Sept. 30, unchanged from June 30 and up 1% from Sept. 30, 2014.

    Parent company revenue came to $3.79 billion for the third quarter, down 2% from the previous quarter and down 18% from the same period a year ago.

    Net income for the parent company, meanwhile, came to $820 million for the latest quarter, compared to $830 million in the second quarter and $1.07 billion in the year-earlier quarter.


    Compare fund flows and AUM of publicly traded money managers with P&I's Earnings Tracker
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