Goldman Sachs sees assets rise 13% for the year

Goldman Sachs reported $1.347 trillion in assets under supervision for its Goldman Sachs Asset Management and wealth management businesses as of Sept. 30, up 3% from three months earlier and up 13% from the same time a year prior, its third-quarter earnings statement said Tuesday.

Net inflows for the quarter were $16 billion, compared to net inflows of $4 billion for the previous quarter and net inflows of $36 billion for the third quarter of 2015. The third quarter saw net inflows of $11 billion in fixed income, $2 billion in equities and $1 billion in alternatives. Liquidity strategies recorded net inflows of $2 billion.

By asset class, Goldman Sachs reported $600 billion in fixed-income AUS as of Sept. 30, up 3% from June 30 and up 10% from Sept. 30, 2015; $327 billion in liquidity strategies, up 1% from the end of previous quarter and up 27% from a year ago; $268 billion in equities, up 6% from June 30 and up 13% from Sept. 30, 2015; and $152 billion in alternative investments, up 1% from three months prior and up 4% from 12 months prior.

Net revenues in investment management were $1.49 billion for the third quarter of 2016, 10% higher than the second quarter of 2016 and 4% higher than the third quarter of 2015. The increase compared with the third quarter of 2015 was primarily due to higher incentive fees.

Investment management and other fees were $1.23 billion for the quarter ended Sept. 30, up 4% from the previous quarter and up 1% from the year-earlier quarter.