State Street Global Advisors reported $2.301 trillion in assets under management as of June 30, flat from three months prior but down 3% from a year earlier, parent company State Street Corp.'s earnings release said Wednesday.
SSgA experienced total net outflows of $35 billion during the second quarter, compared to net inflows of $13 billion during the first quarter and net outflows of $65 billion during the second quarter of 2015.
Equities had $1.307 trillion in AUM as of June 30, down 1.5% from March 31 and down 8.1% from June 30, 2015. Meanwhile, cash accounted for $380 billion, flat from three months earlier but up 1.1% from a year earlier; fixed income, at $335 billion, was up 2.4% and up 4.7%, respectively; alternatives, $162 billion, up 6.6% and up 17.4%; and multiasset-class solutions, $117 billion, up 7.3% from three months prior but down 1% from 12 months earlier.
Assets under custody and administration were $27.786 trillion, up 3.1% from March 31 but down 3% from June 30, 2015. New asset servicing mandates totaled $750 billion in the second quarter, compared to $264 billion during the first quarter.
SSgA's investment management fees were $293 million in the second quarter, up 8.5% from the previous quarter but down 3.6% from the second quarter of 2015.
Revenue for the parent company was $2.57 billion for the quarter, up 3.6% from the prior quarter but down 1.3% from the year-earlier quarter. State Street's net income was $585 million for the second quarter, compared to net income of $319 million during the first quarter of 2016 and $389 million during the second quarter of 2015.
