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Morgan Stanley’s AUM inches up 1% in quarter, but records $8.2 billion in net outflows

Morgan Stanley (MS) Investment Management reported $421 billion in assets under management as of March 31, up 1% from Dec. 31 and up 4% from a year earlier, parent company Morgan Stanley's earnings statement showed on Wednesday.

Net outflows totaled $8.2 billion for the first quarter, compared to net inflows of $8.3 billion for the fourth quarter and net outflows of $3.6 billion for the quarter ended March 31, 2016.

By asset class, liquidity strategies saw $10 billion of net outflows, while alternatives saw $1.8 billion in net inflows. Equities and fixed income, meanwhile, recorded flat net flows for the quarter.

The earnings release also reported liquidity strategies had $153 billion in assets as of March 31, down 6% from Dec. 31 but up 5% from a year prior. Alternatives had $119 billion in assets, up 3% from both three months earlier and the year earlier. Equity had $87 billion in AUM, up 10% from three months earlier and up 7% from the year prior. Fixed income had $62 billion, up 3% from Dec. 31 but flat from 12 months earlier.

Net revenue for MSIM totaled $609 million in the first quarter, up 22% from the previous quarter and up 28% from the year-earlier quarter.

Investment management's net income was $67 million for the first quarter, up from $30 million the previous quarter and $50 million in the first quarter of 2016.