Goldman Sachs reported a record $1.31 trillion in assets under supervision for its Goldman Sachs Asset Management and wealth management businesses as of June 30, up 2% from March 31 and up 11% year-over-year, said its quarterly earnings statement released Tuesday.
Net inflows for the quarter ended June 30 totaled $4 billion vs. $26 billion in the previous quarter and $8 billion in the second quarter of 2015.
The second quarter saw net inflows of $3 billion in liquidity strategies, $3 billion in fixed income and $2 billion in alternative investments. It reported net outflows of $4 billion in equity strategies.
In terms of asset class, Goldman Sachs had $581 billion in fixed-income assets under supervision at the end of June, up 3% from the first quarter and up 11% from the year-earlier quarter; $325 billion in liquidity strategies, up 1% from March 31 and up 24% from June 30, 2015; $254 billion in equities, up 1% from the prior quarter and up 2% from the end of the second quarter 2015; and $150 billion in alternative investments, a 2% increase from the three months ended March 31 and up 3% year-over-year.
Net revenue in investment management was $1.35 billion for the second quarter, relatively unchanged from the first quarter but down 18% from the year-earlier quarter. The year-over-year decline primarily reflected significantly lower incentive fees, the earnings statement said.
Investment management and other fees totaled $1.18 billion in the second quarter, up 1% from the quarter ended March 31, but down 5% from the year earlier quarter.