State Street Global Advisors reported record high assets under management of $3.9 trillion as of June 30, an increase of 8.5% from three months earlier and up 27.6% from a year earlier, parent company State Street Corp.'s earnings release Friday showed.
The release attributed the growth in the year ended June 30 as "mainly reflecting higher period-end market levels and net inflows from ETFs and cash, partially offset by institutional net outflows."
SSGA had net inflows of $83 billion in the quarter ended June 30, much higher than the $39 billion of net inflows in the quarter ended March 31 and $23 billion of net inflows in the quarter ended June 30, 2020.
All but one of SSGA's four investment units were buoyed by positive net inflows in the second quarter led by long-term institutional strategies which attracted $55 billion — $37 billion of which was in fixed-income strategies, $13 billion in equities and $7 billion in multiasset-class portfolios. Alternative investments suffered net outflows of $2 billion in the quarter ended June 30.
By comparison, long-term institutional strategies in aggregate experienced net outflows of $8 billion in the first quarter and net outflows of $31 billion in second quarter of 2020.
ETF net inflows were down slightly to $21 billion in the latest quarter vs. $23 billion in the prior quarter and $26 billion in the year-earlier quarter.
SSGA's cash fund had net inflows of $7 billion in the three months ended June 30, compared with net inflows of $24 billion in the previous three months; and $28 billion in year-earlier period.