Federated Investors (FII) [
profile] took an $81.9-million hit from its money market mutual funds last year, thanks to fee waivers up from $54.0 million in 2010. The Pittsburgh-based mutual fund firm included that data in its fourth quarter
earnings report released last week [
see earnings call transcript].
Federated's earnings fell last quarter, even as its assets under management climbed. The money fund specialists earned $0.36 per diluted share in Q4 2011, missing analysts' expectations of
$0.38 and
$0.39, and down twenty percent from $0.45 for Q4 2010. Meanwhile, Federated's assets under management climbed three percent last year to $369.7 billion on December 31, 2011. 
Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE