NEW YORK — Four New York-based asset managers announced asset changes for the quarter ended May 31.
Morgan Stanley had $440 billion in assets under management as of May 31, down from $442 billion as of Feb. 28, according to a filing with the Securities and Exchange Commission. For the quarter, Morgan Stanley's equity assets under management declined almost 2% to $226 billion; real estate declined 7% to $14 billion; and money market assets declined 4% to $75 billion. Fixed-income and alternative investment assets increased 1% and 11%, respectively.
Morgan Stanley's assets under management increased 6% for the year. The increase was attributed to market appreciation, which was "partly offset by customer outflows," according to the filing.
The Goldman Sachs Group Inc. reported $593 billion in assets under management for the quarter ended May 31, up 4% from the end of February and 21% higher than the same quarter in 2005, according to its SEC filing. The firm reported net quarterly asset inflows of $15 billion across all of its asset classes and $7 billion in market appreciation, mostly in alternative investments and fixed income. Alternative investment assets alone increased about 8% to $128 billion during the quarter. For the year, alternative and equity assets grew by 24% and 30%, respectively.
Lehman Brothers Holdings Inc. reported $198 billion under management at the end of May, up 5.3% from Feb. 28 and up 31% for the year, in an SEC filing. Increases were driven by growth in equity, alternative and money market assets, which increased 39%, 29%, and 81% for the year, respectively.
Bear Stearns & Co. Inc. reported $47.9 billion in assets under management as of May 31, up 5.5% from Feb. 28 and about 20% higher than a year earlier, according to a news release.