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GSAM’s assets up 2% in quarter; firm reports $48 billion in net inflows

Goldman Sachs reported $1.379 trillion in assets under supervision for its Goldman Sachs Asset Management and wealth management businesses as of Dec. 31, up 2% from three months earlier and up 10% from a year earlier, its fourth-quarter earnings statement said Wednesday.

Net inflows for the quarter were $48 billion, compared to net inflows of $16 billion for the previous quarter and net inflows of $57 billion for the fourth quarter of 2015. The fourth quarter saw net inflows of $21 billion in fixed income and $1 billion in alternatives, and net outflows of $5 billion from equities. Liquidity strategies recorded net inflows of $31 billion.

By asset class, Goldman Sachs reported $601 billion in fixed-income assets as of Dec. 31, flat from Sept. 30 but up 10% from Dec. 31, 2015; $358 billion in liquidity strategies, up 9% from the end of previous quarter and up 17% from the end of the year-earlier quarter; $266 billion in equities, down 1% from Sept. 30 but up 6% from Dec. 31, 2015; and $154 billion in alternative investments, up 1% from three months prior and up 4% from 12 months prior.

Net revenues in investment management were $1.61 billion for the fourth quarter of 2016, 8% higher than the third quarter of 2016 and 3% higher than the fourth quarter of 2015.

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