Morgan Stanley Investment Management reported $396 billion in assets under management as of June 30, up 3.7% from March 31 and up 14.1% from a year earlier, parent company Morgan Stanley's earnings release Thursday showed.
Net inflows totaled $7.6 billion for the quarter ended June 30, compared with net inflows of $6 billion for the previous quarter and net inflows of $9.8 billion in the second quarter of 2013.
By asset class, net inflows of $6.9 billion went into liquidity strategies, $1.1 billion into equities, $1 billion into merchant banking and $800 million into alternatives. Real estate saw net outflows of $2.2 billion. Fixed-income net flows were flat during the quarter ended June 30.
The earnings release also reported that $150 billion of AUM was in equities at the end of the second quarter, up 3% from the end of the first quarter. Liquidity strategies had $121 billion in assets, up 6%; fixed income, $62 billion, up 2%; alternatives, $35 billion, up 3%; real estate, $20 billion, down 5%; and merchant banking, $8 billion, up 14%.
Net revenue for MSIM totaled $692 million in the second quarter, down 6.5% from the previous quarter but up 3% the year-earlier quarter.
Investment management net income totaled $138 million in the second quarter, up 16% from the first quarter and up 37% from the year-earlier quarter.