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Money Management

GSAM assets up 3% in quarter, sees $16 billion in net inflows

Goldman Sachs reported $1.494 trillion in assets under supervision for its Goldman Sachs Asset Management and wealth management businesses as of Dec. 31, up 3% from three months earlier and up 8% from a year earlier, its fourth-quarter earnings statement said Wednesday.

Net inflows for the quarter were $16 billion, compared to net inflows of $27 billion for the previous quarter and net inflows of $48 billion for the fourth quarter of 2016. The fourth quarter saw net inflows of $17 billion in liquidity strategies and $1 billion in equities, partially offset by net outflows of $2 billion from alternatives. Fixed income saw no net flows.

By asset class, Goldman Sachs reported $660 billion in fixed-income assets as of Dec. 31, up 1% from Sept. 30 and up 10% from Dec. 31, 2016; $345 billion in liquidity strategies, up 5% from the end of previous quarter but down 4% from the end of the year-earlier quarter; $321 billion in equities, up 5% from Sept. 30 and up 21% from Dec. 31, 2016; and $168 billion in alternative investments, relatively flat from three months prior but up 9% from 12 months prior.

Net revenues in investment management were $1.66 billion for the fourth quarter of 2017, 9% higher than the third quarter and 4% higher than the fourth quarter of 2016.

Investment management and other fees were $1.37 billion for the quarter ended Dec. 31, up 8% from the previous quarter and up 12% from the year-earlier quarter.