Morgan Stanley today announced $399 billion in assets under management as of Nov. 30, the end of its fiscal year, down 30% from the previous quarter and down 33% from a year ago.
Morgan Stanleys earnings report said the loss partly reflects the unprecedented reduction in asset values experienced within the industry as well as unprecedented customer outflows.
In the quarter ended Nov. 30, the company had net outflows of $76.5 billion, primarily in money market and long-term fixed-income funds.
Morgan Stanley Investment Managements net income for the quarter ended Nov. 30 came to a loss of $1.2 billion, compared with a loss of $204 million in the previous quarter and a $294 million gain the year before. Revenue was -$386 million in the latest quarter, compared with $647 million for the prior quarter and $1.25 billion from the year before.
Parent Morgan Stanley reported an overall net loss from continuing operations of $2.2 billion in the fiscal fourth quarter.