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Money Management

GSAM’s assets up 4% for the quarter, reports $27 billion in net inflows

Goldman Sachs reported $1.456 trillion in assets under supervision for its Goldman Sachs Asset Management and wealth management businesses as of Sept. 30, up 4% from three months earlier and up 8% from a year earlier, its third-quarter earnings statement showed Tuesday.

Net inflows for the quarter were $27 billion, compared to net inflows of $16 billion for both the previous quarter and for the third quarter of 2016. The third quarter saw net inflows of $14 billion for liquidity strategies; $12 billion in fixed income; and $2 billion in alternatives. Equity strategies, meanwhile, experienced net outflows of $1 billion.

By asset class, Goldman Sachs reported $654 billion in fixed-income assets as of Sept. 30, up 3% from June 30 and up 9% from Sept. 30, 2016; $328 billion in liquidity strategies, up 4% from the end of the previous quarter and flat from the end of the year-earlier quarter; $305 billion in equities, up 4% from June 30 and up 14% from Sept. 30, 2016; and $169 billion in alternative investments, up 2% from three months prior and up 11% from 12 months previous.

Net revenues in investment management were $1.53 billion for the third quarter of 2017, flat from the previous quarter but up 3% from the third quarter of 2016. The increase in net revenues compared with the third quarter of 2016 was primarily due to higher management and other fees.

Investment management and other fees were $1.27 billion for the quarter ended Sept. 30, down 1% from the previous quarter but up 4% from the year-earlier quarter.