Federated Investors posted net income of $53.3 million during the second quarter, down 3.4 percent from $55.2 million in the same period last year.

Federated Investors' headquarters in Pittsburgh.

AUM totaled $401.8 billion at the close of June, a 20 percent increase from $333.5 billion in end-June last year and a 2 percent rise from $409.2 billion at the end of March.

"Federated's fixed-income fund net sales surged to $2.6 billion in the quarter, while Federated's equity fund flows were positive for the quarter," said CEO J. Christopher Donahue. 

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