Morgan Stanley Investment Management reported $405 billion in assets under management as of March 31, flat from both Dec. 31 and from March 31, 2015, said parent company Morgan Stanley's earnings statement Monday.
Net outflows totaled $3.6 billion for the quarter ended March 31, compared to net outflows of $1 billion for the quarter ended Dec. 31 and net inflows of $1.3 billion for the quarter ended March 31, 2015.
By asset class, merchant banking and real estate experienced net inflows of $1.7 billion for the quarter ended March 31. Meanwhile, liquidity strategies had net outflows of $2.4 billion, while equities saw net outflows of $1.9 billion, fixed income had net outflows of $800 million, and alternatives and managed futures each experienced net outflows of $100 million.
The earnings release also reported that liquidity strategies had $146 billion in assets as of March 31, down 2% from Dec. 31 but up 11% from March 31, 2015. Equity strategies reported $125 billion in assets, down 1% from three months earlier and an 11% drop from a year earlier. Fixed income had $62 billion in assets, up 3% from the previous three months and down 5% from 12 months prior.
Alternatives, meanwhile, had $35 billion in assets, down 3% from both Dec. 31 and March 31, 2015. Merchant banking and real estate had $34 billion in assets as of March 31, up 6% from last quarter and up 13% from the same period the year before. Managed futures had $3 billion in assets, flat from both three and 12 months prior.
Net revenue for MSIM totaled $477 million in the first quarter, down 23% from the previous quarter and down 29% from the year-earlier quarter.
Investment management posted net income of $50 million for the first quarter, compared to net income of $87 million for the fourth quarter and a net income of $109 million during the first quarter of 2015.