Northern Trust Corp.'s assets under management totaled $906.2 billion as of June 30, up less than 1% from three months earlier but down 4% from a year earlier, the company reported Wednesday in its earnings release.
Corporate and institutional assets under management of $672.3 billion were flat from March 31 and were down 6% from June 30, 2015.
Assets under custody of $6.353 trillion as of June 30 were up 2% from three months earlier and up 3% from a year earlier.
Investment management fees of $94.2 billion in the quarter ended June 30 were up 6% from the previous quarter and 17% from the year-over-year quarter.
Northern Trust does not report net inflows or outflows, but in its earnings statement the company attributed higher fees in investment management in part to new business and a reduction in mutual fund fee waivers.
Custody and fund administration fees of $293.3 billion in the second quarter were up 2% from the first quarter and flat from the second quarter of 2015.
The company reported total revenue of $1.324 billion in the quarter ended June 30, up 11% from the previous quarter and up 5% from the year-earlier quarter.
Net income of $260.7 million in the second quarter was up 8% from the first quarter but down 3% from the year-over-year quarter.