Federated Investors reported $369.7 billion in assets under management as of March 31, up 2% from three months earlier and up 4% from a year earlier, its first-quarter earnings release said Thursday.
Federated's equity assets were $56.5 billion as of March 31, up 5.5% from Dec. 31 and up 4.5% from March 31, 2015. Equity net inflows totaled $2.04 billion in the first quarter, while market gains totaled $926 million. The previous quarter saw net outflows of $131 million and market gains of $1.75 billion.
The money manager's fixed-income assets totaled $51.2 billion as of March 31, flat from three months prior and down 4.6% from 12 months earlier. Fixed-income net outflows totaled $877 million for the quarter, and market gains totaled $985 million, compared to net outflows of $653 million and market losses of $295 million for the fourth quarter.
Money market assets, meanwhile, reached $262 billion at the end of the first quarter, up 2.2% from Dec. 31 and up 5.6% from March 31, 2015.
For the quarter, total revenue was $272.1 million, up 12% from the previous quarter and up 23% from the first quarter of 2015. Net income for the first quarter, meanwhile, was $48.8 million, down 1% from the previous quarter but up 34% from the year-earlier quarter.
