State Street Global Advisors had $3.15 trillion in assets under management as of Sept. 30, an increase of 3.1% from three months earlier and up 6.6% from third quarter 2019, parent State Street Corp.'s earnings release Friday showed.
The release attributed the AUM growth in the year ended Sept. 30 to performance and "net inflows from ETFs, partially offset by institutional net outflows."
SSGA had net outflow of $65 billion in the quarter ended Sept. 30, compared to net inflow of $23 billion in the prior quarter and $13 billion in the same quarter in 2019.
The largest net outflow in the current quarter — $58 billion — was from SSGA's cash fund. In contrast, the investment management unit's liquidity fund had net inflow of $28 billion and $15 billion in the quarter ended Sept. 30, 2019.
Long-term institutional strategies continued to experience net outflow but the total during the third quarter — $8 billion — was much lower than the $31 billion of net outflow in the second quarter and down from $14 billion in the same quarter a year earlier.