GSAM assets grow 5% in quarter

Goldman Sachs reported $919 billion in assets under management for its Goldman Sachs Asset Management and wealth management business as of Dec. 31, up 5% from Sept. 30 and up 8% from a year ago, according to a quarterly earnings statement the firm issued Thursday.

Assets under supervision, which includes other client assets along with AUM, totaled $1.042 trillion for the quarter, up 5% from three months earlier and up 8% from a year ago.

Liquidity products saw the largest net AUS inflows for the quarter, at $18 billion, compared to net inflows of $1 billion during the quarter ended Sept. 30, and net inflows of $15 billion for the year-ago quarter.

Fixed income saw total net inflows of $13 billion for the fourth quarter of 2013, compared to net inflows of $12 billion during the third quarter and well up from the net inflows of $2 billion during fourth quarter of 2012.

Equities experienced net inflows of $4 billion during the fourth quarter, unchanged from the third quarter and up from the net outflows of $6 billion during the same period a year earlier.

Alternative investments experienced net outflows of $4 billion in the quarter ended Dec. 31, compared to net outflows of $3 billion during the comparable quarter from 2012. Alternative investment assets were flat in the quarter ended Sept. 30.

Fixed income accounted for $446 billion in AUS as of Dec. 31, up 4% from Sept. 30 and up 9% from a year earlier; $246 billion in liquidity products, up 8% for the quarter and down 2% for the year; equity AUS was at $208 billion, up 9% from the third quarter and 36% from a year earlier; and $142 billion in alternatives, down 1% from three months ago and down 6% from the previous year.

Net revenues in investment management were $1.6 billion for the fourth quarter, 31% higher than the third quarter and 5% higher than the fourth quarter of 2012.