The Pittsburgh asset manager Federated Investors Inc. said its third-quarter earnings rose 37.9% from a year earlier, to $65.5 million.
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Earnings per diluted share from continuing operations rose 18 cents, to 61 cents, Federated Investors said Thursday.
Assets under management rose 17%, to $207.4 billion as of Sept. 30.
Average managed assets for the quarter were $208.1 billion, up $26.3 billion from $181.8 billion a year ago.
That rise was caused primarily by increases in money market assets and the improved performance of equity products, Federated said.
Federated's equity and fixed-income assets, including mutual funds and separately managed accounts, rose 3%, to $53.5 billion as of Sept. 30.
