Morgan Stanley Investment Management reported assets under management of $268 billion for the third quarter of 2011, down 9.5% from the second quarter but up slightly — 0.75% — from the third quarter of last year.
The company reported net outflows for the quarter ended Sept. 30 of $5.8 billion, compared with net inflows of $15.7 billion during the second quarter and net inflows of $2.9 billion for the year-earlier quarter.
The asset management unit of Morgan Stanley reported a pretax loss of $117 million in the third quarter, compared with pretax income of $165 million in the second quarter and pretax income of $279 million in the third quarter 2010.
Net revenue for the asset management business was $215 million for the latest quarter, down 67% from the second quarter and down 73% from the third quarter of 2010.
