Voya Investment Management AUM edges up in quarter to $341 billion

Voya Investment Management reported $341 billion in assets under management as of Sept. 30, up 1.5% from three months earlier and up 9.6% from a year earlier.

Parent company Voya Financial said in a Nov. 4 earnings release that investment management had net inflows of $3.8 billion during the three months ended Sept. 30. The firm attributed it to “further growth from insurance channel clients and continued positive flows within retail.”

Institutional clients made up $158 billion in assets under management, while retail accounted for $148 billion as of Sept. 30, along with nearly $34 billion in general account holdings, according to Voya’s investor supplemental.

“Voya Investment Management delivered a third consecutive quarter of positive net flows, exceeding our organic growth target for the year,” said Heather Lavallee, Voya’s CEO, during the firm's earnings call Nov. 5. “Our continuing strength in institutional fixed income and further expansion within the third-party insurance channel have been key drivers of net inflows in 2024.”

Of the $341 billion in AUM, public fixed income makes up 43%, followed by equities at 29%, and privates and alternatives at 28%.

Voya announced in September that it would acquire the retirement plan business of financial services company OneAmerica Financial, with the deal expected to close Jan. 1. The acquisition will add $62 billion in AUM to Voya’s platform.

“The transaction is both strategically important and financially accretive," Lavallee said during the earnings call. "The acquisition adds meaningful scale to our retirement platform, a broader set of strategic capabilities and new opportunities for distribution partnerships.”