Lehman Brothers reported $282 billion in assets under management for its fiscal fourth quarter ended Nov. 30, according to a company filing. Assets under management were up 2.5% for the quarter and 25.3% for the year, driven by inflows and market appreciation in equities, fixed income and alternatives. During the quarter, Lehmans alternative assets increased by 13.3% to $34 billion, fixed-income assets rose 4.1% to $75 billion and equity assets were up 2.9% to $107 billion. Money market assets declined 4.3% for the quarter to $66 billion, but were still up 37.5% for the year.
Overall, the increase in assets resulted in record asset management revenue for a single quarter at Lehman. The company reported $533 million in revenue for asset management during the quarter, a 13.8% increase from the previous quarter and a 45% increase from last year.