BNY Mellon has issued its financial results for the final quarter of 2015.

BNY Mellon has logged $1.0 billion in revenue from investment management for the final quarter of 2015, an increase of 2 per cent year-over-year and 8 per cent sequentially.

Both increases primarily reflect seasonally higher performance fees and seed capital gains, the firm said.

Assets under management were $1.63 trillion at end-December 2015, down 4 per cent year-over-year and flat sequentially. Both comparisons reflect the unfavorable impact of a stronger US dollar. The year-over-year decrease also reflects net outflows and lower market values, partially offset by the January 2015 acquisition of Cutwater Asset Management. Sequentially, higher market values were partially offset by net outflows.

BNY Mellon’s investment management arm provides investment management services to institutional and retail investors, as well as investment management, wealth and estate planning and private banking services to high net worth individuals and families, foundations and endowments.

BNY Mellon as a group reported Q4 2015 net income applicable to common shareholders of $637 million - or $755 million adjusted for the charge related to a recent court decision, litigation and restructuring charges, it said. This compares to $209 million a year ago and $820 million in the prior quarter.

Yesterday, the firm said it is to acquire the assets of Menlo Park, CA-based Atherton Lane Advisers, which has about $2.7 billion in assets under management.