Morgan Stanley Investment Management reported $341 billion in assets under management, a 0.8% increase over the previous quarter and up 12.1% from the year before, according to parent company Morgan Stanley's earnings release on Thursday.
Net first-quarter outflows totaled $2.5 billion, compared to net inflows of $1.2 billion in the fourth quarter and net inflows of $200 million in the first quarter of 2012.
By asset class, net inflows of $1.8 billion in fixed income, $500 million in alternatives and $400 million in merchant banking were more than offset by net outflows of $5 billion in liquidity products and $200 million in equities.
Equities accounted for the most AUM of all asset classes in traditional asset management, with $127 billion, up 5.8% from the previous quarter. Other asset classes' AUM were liquidity products, $95 billion, down 5%; fixed income at $62 billion, unchanged; and alternatives, $28 billion, up 3.7%.
Net revenues for MSIM totaled $645 million in the first quarter, up 7.7% from the previous quarter and up 21% from the first quarter of 2012.
Pretax income from continuing operations totaled $187 million in the first quarter, down 15.4% from the previous quarter but up 59% from the first quarter of 2012.