Goldman Sachs reported $1.019 trillion in assets under management for its Goldman Sachs Asset Management and wealth management businesses as of Sept. 30, down 1% from three months earlier but up 1% from the same time a year prior, its third-quarter earnings statement said Thursday.
Total assets under supervision for GSAM, which includes other client assets as well as AUM, reached $1.188 trillion as of Sept. 30, up 1% from June 30 and up 3% from Sept. 30, 2014.
Net inflows for the quarter were $36 billion, compared to net inflows of $8 billion for the previous quarter. The third quarter saw net inflows of $24 billion in fixed income; $13 billion in equities; and $4 billion in alternatives. Liquidity strategies experienced net outflows of $5 billion.
By asset class, Goldman Sachs reported $547 billion in fixed-income AUS as of Sept. 30, up 4% from June 30 and up 6% from Sept. 30, 2014; $258 billion in liquidity strategies, down 2% from the previous quarter but up 1% from a year ago; $237 billion in equities, down 5% from June 30 but up 2% from Sept. 30, 2014; and $146 billion in alternative investments, up 1% from three months prior but flat from 12 months prior.
Net revenue in investment management was $1.42 billion for the third quarter, 14% lower than the second quarter and 3% lower than the third quarter of 2014. The decrease in net revenue was due to lower incentive fees, partially offset by higher transaction revenues.
Investment management and other fees were $1.21 billion for the quarter ended Sept. 30, down 3% from the previous quarter and flat from the year-earlier quarter.