Voya Financial on Wednesday reported $281.4 billion in assets under management as of Dec. 31, down 5.6% from the previous quarter and down 8.6% from a year earlier.
The company's retirement segment had $139.1 billion in assets, down 7.6% from the end of the third quarter and down 0.7% from Dec. 31, 2017. The retirement segment had net inflows of $15 million, compared to net inflows of $516 million in the previous quarter and net outflows of $476 million in the fourth quarter of 2017.
Assets under administration totaled $185.9 billion as of Dec. 31, down 24% from the three months ended Sept. 30 and down 24.6% from the fourth quarter of 2017.
Voya's consolidated AUM includes assets from its investment management, retirement, employee benefits and individual life insurance segments, its fourth quarter earnings report said.
Voya Financial had fourth quarter net income of $121 million, down 14.8% from the previous quarter. Voya reported a net income loss of $3.2 billion in the fourth quarter of 2017.
The company reported net revenue of $2.2 billion in the fourth quarter, down 3.1% from the previous quarter and remaining flat from the fourth quarter for 2017.
