Federated Investors profit jumps 34 pct
* Q4 net income 44 cents per share vs Wall St view of 40 cents
* Customers added $15 billion to money markets
* Total assets under management $379.8 billion
Jan 24 (Reuters) - Federated Investors Inc, one of the largest managers of U.S. money market funds, said its fourth-quarter profit jumped 34 percent as higher yields in the bond market bolstered fees.
Net income at Pittsburgh-based Federated totaled $49.6 million, or 44 cents per share, compared to $36.9 million, or 36 cents per share, a year earlier, the company said in a statement on Thursday.
Customers added a net $685 million to Federated's stock and bond funds and $15.1 billion to its money funds and related short-term accounts. Assets under management totaled $379.8 billion at the end of the quarter.
Ahead of the results, shares of Federated closed down 0.4 percent at $22.92 on the New York Stock Exchange on Thursday. The shares have gained 13 percent so far this year, outpacing a 5 percent gain for the Standard & Poor's 500 Index.
Federated is the third-largest manager of money market funds, trailing only Fidelity Investments and JPMorgan Chase & Co.