A $249-billion-AUM asset manager's earnings and AUM are both up year-over-year. And despite Q1 outflows, management expects to see a two- to four-percent organic jump in net flows by the time 2021 is done.
Voya Investment Management
] brought in
$52 million in adjusted operating earnings in the first quarter of 2021, down from $90 million in Q4 2020 but up year-over-year from $40 million in Q1 2020, according to the Q1 2021 earnings report
yesterday, of Voya IM's publicly traded parent: Voya Financial, Inc. (ticker VOYA).
Voya IM's AUM reached $248.55 billion on March 31, 2021, up 1.2 percent from December 31, 2020 and up 18 percent from March 31, 2020. The asset manager suffered $1.175 billion in net Q1 2021 outflows, down from $2.293 billion in Q4 2020 outflows and down from $223 million in Q1 2020 inflows.
This morning, Rod Martin
, chairman and CEO of Voya Financial, told analysts on the firm's earnings call (as transcribed by Seeking Alpha
) that Voya IM "saw continued institutional inflows" in Q1 2021.
"While we experienced net outflows during the quarter, we expect to achieve our 2% to 4% net flow organic growth targets for 2021, due to a strong unfunded pipeline," Martin said on the call.
, CEO of Voya IM, elaborated in response to a question from Morgan Stanley
analyst Nigel Dally
"What we do see is very strong unfunded wins as progressing through finals and semi-finals," Hurtsellers said during the call's Q&A section. "We've delivered five consecutive years of positive net cash flows, and so we're well on track for having our sixth year of positive cash flows."
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