Morgan Stanley Investment Management reported $403 billion in assets under management as of June 30, down 1% from March 31 but up 1% from a year earlier, parent company Morgan Stanley's earnings statement on Monday showed.
Net outflows totaled $4 billion for the quarter ended June 30, compared to net inflows of $1.3 billion for the quarter ended March 31 and net inflows of $7.3 billion for the quarter ended June 30, 2014.
By asset class, net inflows of $700 million went into liquidity strategies and $600 million went into alternatives during the second quarter. Equities, meanwhile, saw net outflows of $4.4 billion, while merchant banking and real estate experienced net outflows of $600 million, and fixed income had net outflows of $300 million. Managed futures were flat during the quarter ended June 30.
The earnings release also reported that equity strategies had $137 billion in assets as of June 30, down 3% from March 31 and down 9% from June 30, 2014. Liquidity strategies, meanwhile, were $132 billion, up 1% from March 31 and up 9% from the same time a year ago. Fixed income was $64 billion, down 2% from last quarter but up 3% from last year. Alternatives had $37 billion in AUM, up 3% from March 31 and up 6% from June 30, 2014, while managed futures hit $3 billion in assets, unchanged from last quarter or last year.
Net revenue for MSIM totaled $751 million in the second quarter, up 12% from the previous quarter and up 7% from the year-earlier quarter.
Investment management posted net income of $159 million for the quarter ended June 30, compared to net income of $109 million during the previous quarter and $142 million during the second quarter of 2014.
