Goldman Sachs on Tuesday reported $836 billion in assets under management for its Goldman Sachs Asset Management and wealth management businesses as of June 30, up 1.4% from the prior quarter but down 0.9% from the year before.
For the quarter, the company reported net inflows of $16 billion, powered by the addition of $17 billion in fixed-income assets from Goldman Sachs' May 15 acquisition of stable value boutique Dwight Asset Management. The latest inflows followed net outflows of $26 billion for the prior quarter and $3 billion for the year-earlier quarter.
Fixed-income-related inflows, which include the Dwight assets, for the latest quarter came to $12 billion, up from $1 billion in the prior quarter and $7 billion for the year-earlier quarter. Equity strategies, meanwhile, saw net outflows of $2 billion, better than first-quarter outflows of $5 billion but the same as the year-earlier quarter. Outflows for alternatives strategies came to $1 billion, an improvement from outflows of $4 billion for the prior quarter and $3 billion for the year-earlier quarter.
Money market strategies pulled in $7 billion for the latest quarter, following outflows of $18 billion for the prior quarter and $5 billion for the year-earlier quarter.
Market declines, meanwhile, resulted in a $4 billion reduction in AUM, following gains of $22 billion for the prior quarter and $7 billion for the year-earlier quarter.
As of June 30, Goldman Sachs reported $363 billion in fixed-income AUM, up 4.6% from the prior quarter and accounting for 43.4% of total assets; money market strategies were next with $209 billion in assets, or 25% of the total, up 3.5% from the prior quarter; alternatives-related assets stood at $137 billion, or 16.4% of the total, down 1.4% from the prior quarter; and equity AUM came to $127 billion, or 15.2% of overall assets, down 6.6% from the prior quarter.
Investment management revenues for the latest quarter came to $1.33 billion, up 13% from three months earlier on the strength of higher incentive fees, and 5% higher than the year-earlier quarter.