Voya Investment Management reported $339.4 billion in assets under management as of Dec. 31, up over 5% from $321.7 billion a year earlier, but a slight decrease from $340.5 billion reported three months earlier.
Parent company Voya Financial said that its investment management division generated net inflows of $3.4 billion, excluding divested businesses, during the fourth quarter. Voya said the flows showed “continued growth in the insurance channel and further positive flows within retail.” Net inflows for the year totaled $12.5 billion.
Institutional clients made up $156.5 billion in assets under management, while retail accounted for $149.2 billion at the end of the fourth quarter, along with $33.5 billion in general account holdings, according to the firm’s investor supplement.
“We are pleased to report strong revenue growth, margin expansion and commercial momentum in our wealth solutions and investment management businesses for the fourth-quarter and full-year 2024,” said Heather Lavallee, CEO of Voya Financial, in an earnings release.
Public fixed income accounts for $143.3 billion of assets under management, followed by equities at $97.9 billion and private fixed income at $78.8 billion.
Voya announced that it closed on its acquisition of the retirement plan business of OneAmerica Financial on Jan. 2.
“We’re excited about the growth opportunities available for new distribution partnerships and a broader set of capabilities, and we continue to expect $200 million in revenue and $75 million in incremental operating earnings from OneAmerica in 2025,” Lavallee said on the firm’s earnings call.
