Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Federated Clears Hurdle Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, April 24, 2002

P&L
Federated Clears Hurdle

by: Sean Hanna, Editor in Chief

Federated Investors grew brought $1.2 billion of net sales into its funds in the first quarter. The growth added to the Pittsburgh fund manager's $38 billion asset base in its funds. Altogether the firm now manages $194 billion of assets.

J. Christopher Donahue, president and chief executive officer, pointed to the financial results as proof of the Federated's ability "to produce growth and shareholder value of changing market cycles."

"With competitive performance in key equity and fixed-income sectors, coupled with a strong distribution team, Federated is well positioned for future growth," added Donahue.

The fund firm was the first this week to meet analyst earnings estimates.

Strong selling funds included the Federated bond funds (Ultrashort Bond, Government Ultrashort Bond, High Yield Trust) and a number of stock funds, Capital Appreciation, Kaufmann and Stock Trust.

"Market demand has clearly shifted over the past two years, with investors demonstrating a preference for blend and value equity products and a renewed interest in fixed-income," said Donahue.

The new assets raised investment advisory fees at Federated 20% to $116 million from $97 million a year prior.

Altogether, the firm's bottom line rose to $0.44 cents per share, up from $0.35 a year ago. The firm also said it is increasing its quarterly dividend by 24 percent and that it plans to buy back 689,570 shares.

Federated Investors
Changes in Fund Assets ($ mil)
Quarter Ended March 31 2002 2001
Equity Funds
Beginning Assets $20,760 $20,641
Sales 1,563 1,668
Redemptions -1,306 -1,738
Net sales (redemptions) 257 -70
Net exchanges 36 -65
Other* 72 -2,257
Ending Assets $21,125 $18,249
Fixed-Income Funds
Beginning Assets $17,378 $14,268
Sales 3,182 1,959
Redemptions -2,169 -1,398
Net sales 1,013 561
Net exchanges 34 -13
Other* 108 296
Ending Assets $18,533 $15,112
Source: Federated Investors


Federated Investors Managed Assets
MANAGED ASSETS ($ mm) 31-Mar-02 31-Dec-01 30-Sep-01 30-Jun-01 31-Mar-01
By Asset Class
Equity $23,025 $22,598 $20,497 $24,269 $19,957
Fixed-income 22,370 21,055 19,945 18,695 18,757
Money market 132,205 136,034 123,203 117,810 107,733
Total Managed Assets $177,600 $179,687 $163,645 $160,774 $146,447
By Product Type
Funds:
Equity $21,125 $20,760 $18,840 $22,461 $18,249
Fixed-income 18,533 17,378 16,410 15,179 15,112
Money market 131,109 135,092 122,263 117,035 106,990
Total Fund Assets $170,767 $173,230 $157,513 $154,675 $140,351
Separate Accounts:
Equity $1,900 $1,838 $1,657 $1,808 $1,708
Fixed-income 3,837 3,677 3,535 3,516 3,645
Money market 1,096 942 940 775 743
Total Separate Accounts $6,833 $6,457 $6,132 $6,099 $6,096
Total Managed Assets $177,600 $179,687 $163,645 $160,774 $146,447
By Market
Trust $98,228 $96,568 $86,983 $83,630 $76,981
Broker/dealer 45,899 46,592 43,259 44,699 43,845
Institutional 24,472 27,531 25,014 23,563 19,173
International 1,366 1,367 1,312 1,340 1,351
Other 7,635 7,629 7,077 7,542 5,097
Total Managed Assets $177,600 $179,687 $163,645 $160,774 $146,447
AVERAGE MANAGED ASSETS Quarter Ended
(in millions) March 31, March 31, % Dec. 31, %
2002 2001 Change 2001 Change
By Asset Class
Equity $22,334 $21,620 3.30% $21,792 2.50%
Fixed-income 21,841 18,685 16.9 21,010 4
Money market 139,417 106,258 31.2 133,192 4.7
Total Average Managed Assets $183,592 $146,563 25.30% $175,994 4.30%
Source: Federated Investors
 

See the list of all the 2002 Most Influential People



Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2020: Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use