State Street Global Advisors reported $2.2 trillion in assets under management as of Sept. 30, down 7.2% from three months prior and down 9% from a year earlier, parent company State Street's earnings release said Friday.
The firm experienced total net outflows of $29 billion during the third quarter of 2015, compared to net outflows of $65 billion during the second quarter.
Equities had $1.266 trillion in AUM as of Sept. 30, down 11% from June 30 and down 10.2% from Sept. 30, 2014. Meanwhile, cash saw $380 billion in AUM, up 1% but down 7.3% from the same dates, respectively; fixed income, $316 billion, down 1.3% and down 6.5%; alternatives, $130 billion, down 5.8% from June 30 but up 4.8% from a year earlier; and multiasset-class solutions, $111 billion, down 6% from three months prior and down 20% from 12 months earlier.
Assets under custody and administration were $27.265 trillion, down 4.8% from June 30 and down 4.2% from Sept. 30, 2014. New asset servicing mandates totaled $141 billion during the third quarter, compared to $143 billion during the second quarter.
SSgA's investment management fees were $287 million in the third quarter of 2015, down 2.3% from the previous quarter and down 0.6% from the third quarter of 2014.
Revenue for parent State Street Corp. was $2.62 billion for the quarter, flat from the prior quarter but up 1.4% from the year-earlier quarter. State Street's net income of $543 million was 38.2% higher than the previous quarter but flat from the same period a year ago.