Federated Investors reported $364.3 billion in assets under management as of Sept. 30, down 1% from June 30 but up 4% from Sept. 30, 2015, said its third-quarter earnings release Thursday.
Federated's equity assets were $64.1 billion as of Sept. 30, up 4% from June 30 and up 23% from Sept. 30, 2015. Equity net inflows totaled $1.8 billion in the third quarter, while market gains totaled $444 million. The previous quarter saw net inflows of $2.8 billion and market gains of $2.6 billion.
The manager’s fixed-income assets were $51.8 billion as of Sept. 30, up 3% from three months prior but flat from 12 months prior. Fixed-income net inflows totaled $746 million for the quarter, and market gains totaled $754 million, compared to net outflows of $1.9 billion and market gains of $984 million for the second quarter.
Money market assets were $248.4 billion at the end of the third quarter down 3% from the end of the second but up 1% from the end of the third quarter of 2015.
For the quarter, total revenue was $294.6 million, up 3% from the previous quarter and up 26% from the third quarter of 2015. Net income for the third quarter, meanwhile, was $54.9 million, up 4% from the second quarter and up 24% from the third quarter of 2015.
