State Street Global Advisors
pulled in investment management fees of $261 million in the third quarter, down 13 percent from $299 million a year ago. The decline reflects the impact of lower average month-end equity valuations and lower performance fees. At the end of September, SSgA had AUM of $1.686 trillion, or 16 percent lower than its AUM at the close of September last year.
SSgA's parent, State Street Corp., posted higher earnings for the quarter. Net income jumped to $477 million ,or 1.09 per share, compared to $358 million, or 91 cents per share last year.
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