Federated Investors reported $484.9 billion in assets under management as of March 31, up 5% from three months earlier and up 24% from a year earlier, the company said in its first-quarter earnings statement released Thursday.
The firm's AUM was boosted by inflows into liquidity management products and investor interest in its money market funds.
"Liquidity management products saw strong flows in the first quarter, as Federated's money market funds offered the potential for higher yields than deposit accounts," said J. Christopher Donahue, president and CEO, in the earnings release. "Assets in our prime, government and tax-free money market funds were up from the previous quarter, and investors turned to Federated for liquidity management solutions that provide diligent credit analysis, broad diversification and competitive yields."
Money market assets totaled $318.4 billion as of March 31, up 6% from Dec. 31 and up 20% from March 31, 2018.