State Street Global Advisors had $2.92 trillion in assets under management as of June 30, a 4% increase from March 31 and up 7.2% higher than a year earlier, parent State Street Corp.'s earnings release Friday showed.
SSGA's net inflows for the second quarter totaled $20 billion, compared to $73 billion in net inflows for the quarter ended March 31 and $14 billion in net outflows in the second quarter of 2018.
It was the second straight quarter of net inflows following a fourth quarter of 2018 that saw net outflows of $47 billion.
Ronald P. O'Hanley, president and CEO of State Street Corp., said on an earnings call that despite continuing industry challenges such as client pricing and global industry outflows, "our results stabilized somewhat and were supported by market tailwinds."
By asset class, equities had $8 billion in net inflows in the second quarter compared to $47 billion in net inflows in the first quarter and $22 billion in net outflows in the previous-year quarter.
Fixed-income strategies had $5 billion in net inflows, ending a two-quarter streak of net outflows. The first quarter of 2019 saw $5 billion in net outflows, while the quarter ended June 30, 2018 saw $12 billion in net inflows.
Cash had net inflows of $4 billion in the second quarter compared to $24 billion for the quarter ended March 31 and $2 billion in net outflows for the second quarter of 2018, while multiasset strategies had net inflows of $3 billion for the second quarter vs. $5 billion in the first quarter and net outflows of $1 billion for the second quarter of 2018.
Finally, alternatives had no net inflows for the quarter ended June 30, down from $2 billion in the first quarter and up from $1 billion in net outflows for the quarter ended June 30, 2018.