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.
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