Morgan Stanley Investment Management reported $382 billion in assets under management as of March 31, up 2% from Dec. 31 and up 12% from a year earlier, according to parent company Morgan Stanley's earnings release Thursday.
Net inflows totaled $6 billion for the quarter ended March 31, compared with net inflows of $4.2 billion for the previous quarter and net outflows of $2.5 billion in the first quarter of 2013.
By asset class, net inflows of $2.8 billion went into equities, $2.3 billion into liquidity strategies and $1.8 billion into alternatives. Fixed income saw net outflows of $700 million while real estate had net outflows of $200 million. Merchant banking saw no net flows during the quarter ended March 31.
The earnings release also reported that $145 billion of AUM was in equities at the end of the first quarter, up 4% from the end of the fourth quarter. Liquidity strategies had $114 billion in assets, up 2%; fixed income, $61 billion, up 2%; alternatives, $34 billion, up 10%; real estate, $21 billion, unchanged from the end of the previous quarter; and merchant banking, $7 billion, down 22%.
Net revenue for MSIM totaled $740 million in the first quarter, down 12% from the previous quarter and 15% above the year-earlier quarter. Investment management net income totaled $119 million in the first quarter, down 35% from the fourth quarter.