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Morgan Stanley’s AUM flat for quarter despite inflows of $8 billion

Morgan Stanley

Morgan Stanley (MS) Investment Management reported $417 billion in assets under management as of Dec. 31, flat from Sept. 30 but up 3% from a year earlier, said parent company Morgan Stanley's earnings statement on Tuesday.

Net inflows totaled $8 billion for the fourth quarter, compared to net inflows of $3.9 billion for the third quarter and net outflows of $1 billion for the quarter ended Dec. 31, 2015.

By asset class, net inflows of $9.2 billion went into liquidity strategies, while fixed income experienced net inflows of $300 million. Equities, meanwhile, saw net outflows of $1 billion, while alternatives saw net outflows of $500 million.

The earnings release also reported that liquidity strategies had $163 billion in assets as of Dec. 31, up 6% from Sept. 30 and up 9% from Dec. 31, 2015. Alternatives had $115 billion in assets, down 2% from three months earlier but up 1% from a year earlier. Equity had $79 billion, down 5% from both three months earlier and a year earlier. Fixed income had $60 billion, down 5% from both Sept. 30 and flat from 12 months earlier.

Net revenue for MSIM totaled $500 million in the fourth quarter, down 9% from the previous quarter and down 19% from the year-earlier quarter.

Investment management's net income was $30 million for the third quarter, compared to net income of $67 million for the quarter ended Sept. 30 and net income of $87 million during the fourth quarter of 2015.