Voya Financial's assets under management totaled $308 billion as of Dec. 31, down 1.1% from three months earlier but up 7.3% from a year prior, the money manager said in its earnings report released Wednesday.
Assets under administration for the company were $246.5 billion as of Dec. 31, up 7.5% from Sept. 30 and up 25.1% from Dec. 31, 2016.
Voya's retirement segment had net outflows of $476 million in the fourth quarter, vs. net inflows of $1.1 billion in the third quarter and net inflows of $803 million in the fourth quarter of 2016.
Voya Financial posted a net loss of $3.17 billion during the fourth quarter, compared with net income of $149 million in the third quarter and a net loss of $417 million in the fourth quarter of 2016. The company attributed the loss to an after-tax writedown of $2.42 billion from businesses held for sale to fair value less the costs to sell and a $679 million loss related to the estimated one-time reduction in the carrying value of deferred tax assets due to the lower corporate tax rate.
Net revenue, meanwhile, was $2.2 billion, flat from the previous quarter but down 5.9% from the same period a year prior.
