Morgan Stanley Investment Management reported $406 billion in assets under management as of March 31, up 1% from Dec. 31 and up 5% from a year earlier, parent company Morgan Stanley's earnings statement Monday showed.
The annual increase in AUM was attributed primarily to market appreciation and positive flows.
Net inflows totaled $1.3 billion for the quarter ended March 31, compared to net inflows of $3.5 billion for the quarter ended Dec. 31 and net inflows of $5.8 billion in the first quarter of 2014.
By asset class, net inflows of $2.8 billion went into liquidity strategies, $1.1 billion went into fixed income and $100 million went into alternatives during the first quarter of 2015. Equities, meanwhile, saw net outflows of $2 billion, while merchant banking and real estate experienced net outflows of $400 million. Managed futures saw net outflows of $300 million during the quarter ended March 31.
The earnings release also reported that liquidity strategies had $131 billion in assets, up 2%. The rest of the strategies were relatively unchanged from the previous quarter — equities had $141 billion of AUM; fixed income, $65 billion; alternatives, $36 billion; merchant banking and real estate, $30 billion; and managed futures, $3 billion.
Net revenue for MSIM totaled $669 million in the first quarter, up 14% from the previous quarter but down 11% from the year-earlier quarter.
Investment management posted net income of $109 million for the quarter ended March 31, compared to a net loss of $15 million during the previous quarter and net income of $120 million during the first quarter of 2014.
