PI: BNY Mellon AM off 20% on the year - Spear's Magazine

PI: BNY Mellon AM off 20% on the year

BNY Mellon reported today that its BNY Mellon Asset Management division and its Wealth Management division had a combined $881 billion in assets under management as of March 31, down 5.1% from the prior quarter and off 20% from the year before.

From Pensions and Investments:

BNY Mellon reported today that its BNY Mellon Asset Management division and its Wealth Management division had a combined $881 billion in assets under management as of March 31, down 5.1% from the prior quarter and off 20% from the year before.

BNY Mellon Asset Management’s money management boutiques accounted for the bulk of those assets, with AUM of $815 billion at the end of March, down 5.1% from the prior quarter and down 20% from the year before. Market-related declines accounted for $31 billion of the quarterly declines, with long-term equity and bond funds seeing net outflows of $2 billion and money market funds losing $11 billion.

To read the full article, visit pionline.com



 

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