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Federated Investors Reports a Drop in AUM and Operating Income

TheMotleyFool

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Federated Investors Reports a Drop in AUM and Operating Income

Fund manager Federated Investors (NYSE: FII) reported that net income rose 1% in the second quarter to $53.5 million, helped primarily by an increase in investment income from the company's investment portfolio.

Operating income, which excludes investment income and taxes, fell by 4%, due to a decline in fees earned on Federated's declining base of managed assets.

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Source: Fool.com