BNY Mellon Investment Management reported assets under management of $2.43 trillion as of Dec. 31, up 5.4% from three months earlier and up 10.1% from a year earlier, parent company Bank of New York Mellon said in an earnings release Tuesday.
BNY Mellon attributed the year-over-year AUM increase primarily to "higher market values and net inflows."
In the fourth quarter, net inflows totaled $27 billion, including $31 billion inflows into cash, $1 billion inflows into liability-driven investments and $1 billion inflows into multiasset and alternative investments, according to a quarterly financial supplement. Equities saw net outflows of $4 billion in the quarter, while flows for fixed income were flat and index AUM saw net outflows of $2 billion in the quarter, the supplement said.
Year-over-year net inflows totaled $102 billion, with $70 billion moving into cash. Equities saw $12 billion in net outflows over the year, while fixed income and liability-driven investments had year-over-year inflows of $17 billion and $36 billion, respectively. Multiasset and alternative investments, and index AUM saw net outflows of $2 billion and $7 billion, respectively, year-over-year, according to the supplement.