Goldman Sachs reported $1.287 trillion in assets under supervision for its Goldman Sachs Asset Management and wealth management businesses as of March 31, up 3% from three months earlier and up 9% from a year earlier, its first-quarter earnings statement said Tuesday.
Net inflows for the quarter were $26 billion, compared to net inflows of $57 billion in the previous quarter and net outflows of $7 billion in the first quarter of 2015. The first quarter saw net inflows of $16 billion in liquidity strategies; $5 billion in fixed income; $4 billion in equities; and $1 billion in alternative investments.
By asset class, Goldman Sachs reported $566 billion in fixed-income assets under supervision as of March 31, up 4% from Dec. 31 and up 9% from March 31, 2015; $322 billion in liquidity strategies, up 5% from the end of the previous quarter and up 20% from a year earlier; $252 billion in equities, unchanged from March 31 but up 2% from March 31, 2015; and $147 billion in alternative investments, down 1% from three months prior but up 4% from 12 months prior.
Net revenue in investment management was $1.35 billion for the first quarter, 13% lower than the previous quarter and down 15% from the first quarter of 2015. The year-over-year decrease in net revenue primarily reflected significantly lower incentive fees.
Investment management and other fees were $1.17 billion for the quarter ended March 31, down 6% from the previous quarter and down 2% from the year-earlier quarter.