* Q4 net income 44 cents per share vs Wall St view of 40
* Customers added $15 billion to money markets
* Total assets under management $379.8 billion
Jan 24 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
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 &