Bank of New York Mellon reported $1.824 trillion in assets under management as of Sept. 30 for its BNY Mellon Investment Management and wealth management businesses, up 3% from three months earlier and up 6% from a year before.
The business saw no net inflows into long-term strategies for the third quarter, compared to net inflows of $3 billion in the second quarter and net inflows of $1 billion in the third quarter of 2016, the company said in its earnings statement Thursday.
Fixed income saw $4 billion in net inflows of for the quarter, while multiasset and alternative strategies saw $3 billion in net inflows. Meanwhile, equities and liability-driven assets both experienced $2 billion in net outflows, while index strategies had $3 billion in net outflows for the quarter.
Broken down by asset class, 35% of assets under management was in LDI as of Sept. 30, 18% in index investments, 16% in cash, 11% each in fixed income and alternatives, and 9% in equities.