Federated Reports Q1 Earnings
Federated Investors released its "First Quarter Earnings late yesterday, and the money fund manager hosts its earnings call this morning at 9am. (Watch for highlights in Crane Data's News on Monday, and click here for info on the call.) The earnings release says, "Federated Investors, Inc. (NYSE: FII), one of the nation's largest investment managers, today reported earnings per diluted share (EPS) of $0.60 for Q1 2018, up 22 percent from $0.49 for the same quarter last year on net income of $60.3 million for Q1 2018, compared to $49.6 million for Q1 2017. Federated's total managed assets were $392.2 billion at March 31, 2018, up $30.5 billion or 8 percent from $361.7 billion at March 31, 2017 and down $5.4 billion or 1 percent from $397.6 billion at Dec. 31, 2017." President & CEO J. Christopher Donahue, who will keynote Crane' Money Fund Symposium June 25 in Pittsburgh, says, "In fixed-income, investors sought a variety of investment solutions that ranged from our stalwart Total Return Bond Fund to shorter-duration strategies, in which investments' interest rates can reset as benchmark rates continue to rise." The release adds, "Federated's fixed-income assets were $62.3 billion at March 31, 2018, up $10.5 billion or 20 percent from $51.8 billion at March 31, 2017 and down $1.9 billion or 3 percent from $64.2 billion at Dec. 31, 2017. Top-selling fixed-income funds during Q1 2018 on a net basis included Federated Ultrashort Bond Fund, Federated Total Return Bond Fund, Federated Short-Term Income Fund, Federated Floating Rate Strategic Income Fund and Federated U.S. Government Securities Fund: 1-3 Years. Money market assets were $265.9 billion at March 31, 2018, up $20.7 billion or 8 percent from $245.2 billion at March 31, 2017 and up $0.7 billion from $265.2 billion at Dec. 31, 2017. Money market fund assets were $182.4 billion at March 31, 2018, up $7.2 billion or 4 percent from $175.2 billion at March 31, 2017 and down $3.1 billion or 2 percent from $185.5 billion at Dec. 31, 2017. Federated's money market separate account assets were $83.5 billion at March 31, 2018, up $13.5 billion or 19 percent from $70.0 billion at March 31, 2017 and up $3.8 billion or 5 percent from $79.7 billion at Dec. 31, 2017."
