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Money Management

BNY Mellon’s assets increase 1.27% for quarter on inflows of $15 billion

Bank of New York Mellon (BK)'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.

Index strategies and equities experienced $3 billion and $2 billion, respectively, in net outflows for the third quarter. Index strategies had net outflows of $7 billion in the second quarter and net outflows of $3 billion in the third quarter of 2017. Equities, meanwhile, had net outflows of $3 billion in the previous quarter and net outflows of $2 billion in the year-earlier quarter.

Cash strategies had zero net inflows, compared to net outflows of $11 billion in the second quarter and net inflows of $10 billion in the third quarter of 2017.

Assets under management for liability-driven investments, including currency overlay, totaled $652 billion as of Sept. 30, down 1.7% from three months earlier and up 4.8% from a year earlier.

Index strategy AUM totaled $352 billion as of Sept. 30, a 5.4% increase from June 30 and up 5.7% from Sept. 30, 2017.

Cash strategy AUM as of Sept. 30 totaled $271 billion, flat from three months earlier and down 9.1% from 12 months earlier.

Fixed-income AUM totaled $202 billion as of Sept. 30, up 2.5% from June 30 and down 1.9% from Sept. 30, 2017.

Multiasset and alternative investment AUM totaled $184 billion as of Sept. 30, up 1.6% from three months earlier and down 11.1% from a year earlier.

Equity AUM totaled $167 billion as of Sept. 30, up 4.4% from June 30 and up 5.7% from Sept. 30, 2017.

The remaining AUM is securities lending cash management assets and asset managed in the firm's investment services business.

Total revenue for parent company BNY Mellon was $4.07 billion for the third quarter, down 1.7% from the previous quarter and up 1.4% from the third quarter of 2017. The parent company's net income for the third quarter totaled $1.08 billion, flat from the previous quarter and up 9.2% from the year-over-year quarter.