Morgan Stanley Investment Management reported $347 billion in assets under management in the second quarter, up 1.8% over the previous quarter and an 11.6% increase from the year before, according to parent company Morgan Stanley's earnings release on Thursday.
Net inflows totaled $9.8 billion, compared to net outflows of $2.5 billion in the first quarter and net inflows of $13.1 billion in the second quarter of 2012.
By asset class, net inflows of $11.2 billion went into liquidity products, $500 million into alternatives, $400 million into merchant banking and $200 million into equities. Fixed income saw net outflows of $1.8 billion, while real estate had net outflows of $700 million.
According to the earnings release, $125 billion of AUM was in equities in the second quarter, down 2% from the previous quarter. Liquidity products had $106 billion in assets, up 12%; fixed income, $59 billion, down 5%; alternatives, $29 billion, up 4%; merchant banking, $8 billion, down 11%; and real estate, $20 billion, unchanged from the previous quarter.
Net revenues for MSIM totaled $673 million in the second quarter, up 4% from the previous quarter and 48% above the second quarter of 2012.
Investment management net income totaled $101 million in the second quarter, up 19% from the first quarter and 621% above the $14 million reported in the quarter ended June 30, 2012.