Bank of New York Mellon's investment management and wealth management businesses reported $1.828 trillion in assets under management as of Sept. 30, up 1.27% from three months earlier and flat compared to a year earlier, according to parent BNY Mellon's quarterly earnings release Thursday.
Net inflows totaled $15 billion during the third quarter, compared to net outflows of $26 billion during the second quarter and $10 billion in net inflows during the third quarter of 2017.
Among asset classes managed by BNY Mellon Investment Management, liability-driven investments, including currency overlay, were the primary contributor to net inflows, with $16 billion. The asset class had $2 billion in net inflows in the second quarter and $2 billion in net outflows in the third quarter of 2017
Fixed income, and the multiasset and alternative investments asset class each reported $2 billion in net inflows during the quarter ended Sept. 30. Fixed income had $4 billion in net outflows in the quarter ended June 30 and $4 billion in net inflows for quarter ended Sept. 30, 2017; and multiasset and alternative investments had $3 billion in net outflows during the previous quarter and $3 billion in net inflows in the year-earlier quarter.