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trillion of assets under management supporting defined benefit and defined contribution plans, PGIM serves more than half of the world's 300 largest pension funds. We maintain a AA rating, which reflects a healthy capital position, including more than $4 billion in highly liquid assets at the end of the third quarter.
We believe the introduction of spot bitcoin ETPs further evidences the maturation of bitcoin as an institutional grade asset class with broader regulatory recognition and institutional adoption. Bitcoin ETPs also benefit from this, offset by the managementfees that are charged for those products.
PGIM, our global assetmanagement business, is well positioned to address the increasing demand for retirement solutions around the world while capitalizing on growing institutional demand for private credit and alternative investments. pension plans, and is the largest pension fund manager in Japan.
They’re talking about assetmanagement firms, in which public pension funds often have investments, supporting shareholder proposals meant to achieve social justice or climate objectives yet of dubious financial value. Both are financially deleterious. Nor is it supported by the empirical evidence.
Prismic will enhance our mutually reinforcing business system and drive future growth by leveraging our differentiated brands, global asset and liability origination capabilities, and multichannel distribution. PGIM's assets under management increased 6% to $1.3 Turning to Slide 5. Results of our U.S.
NII ex-markets was up $274 million or 1%, driven by the impact of balance sheet mix and securities reinvestment, higher revolving balances in card, and higher wholesale deposit balances, predominantly offset by lower deposit balances in banking and wealth management and deposit margin compression. trillion and client assets of $5.7
As we look ahead, we are well positioned as a global leader at the intersection of assetmanagement and insurance. PGIM, our global active Investment manager, has diversified capabilities in both public and private asset classes across fixed income, equities, and alternatives. Moving to Slide 5.
CCB client investment assets were up 18% year on year. Client investment assets were up 18% year on year, driven by market performance and strong net inflows across our advisor and digital channels. Asset and wealth management reported a net income of 1.1 And overall client assets of 4.6 Revenue of 4.6
First, we moved to a consistent measure of profitability of operating income across each segment of our business that excludes amortization of acquired intangible assets. Some of the areas we exited included Retail Primary Casualty, Risk-managed Architects and Engineers, and Intellectual Property Collateral Protection lines.
We surpassed $1 trillion of assets under management. The first alternative manager to do so of more than three years ahead of the aspirational road map we presented at our investor day in 2018. We believe our clients view us as the gold standard in alternative assetmanagement. Thank you all for joining the call.
Year-to-date 2024, the price of Bitcoin has appreciated, spurred notably by the approval of the bitcoin exchange-traded products, or ETPs, which has drawn considerable institutional attention to the asset class. We are a publicly traded company that has adopted bitcoin as our primary treasury reserve asset. So what does this mean?
As an operating business, we're able to use cash flows, as well as proceeds from equity and debt financings to accumulate Bitcoin, which serves as our primary treasury reserve asset. Being an operating company, our Software Technology business remains our core revenue and cash flow generator.
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