Goldman Sachs & Co. today reported assets under management of $779 billion as of Nov. 28, the end of the company’s fiscal fourth quarter, down 9.7% from the previous quarter and down 10.3% from the year-earlier quarter.
In the quarter, $90 billion in market depreciation, primarily in equity assets, was only partially offset by $6 billion of net inflows from the company’s investment assets, driven by $11 billion in inflows for money market investments.
Net revenue for the quarter came to $945 million, down 16.4% from the prior quarter and down 19% from the year before, primarily because of market depreciation and net outflows in equity assets, which generated lower management fees, according to a news release from Goldman Sachs.