Morgan Stanley Investment Management reported $406 billion in assets under management as of June 30, flat from both March 31 and from June 30, 2015, said parent company Morgan Stanley in its second-quarter earnings statement Wednesday.
Net outflows totaled $1.7 billion for the quarter ended June 30, compared to net outflows of $3.6 billion for the quarter ended March 31 and $4 billion for the quarter ended June 30, 2015.
By asset class, liquidity strategies had $2.4 billion in net inflows for the quarter ended June 30, compared to $2.4 billion in net outflows in the previous quarter and $700 million in net inflows for the year-earlier quarter.
All other asset classes experienced net outflows for the second quarter: Alternative/other products, $1.5 billion; equity strategies, $1.4 billion; and fixed-income strategies, $1.2 billion.
Alternative/other products had $300 million in net inflows in the quarter ended March 31 and $300 million in net outflows in the quarter ended June 30, 2015; equity strategies had $700 million in net outflows in the previous quarter and $4.1 billion in net outflows in the year-earlier quarter; and fixed-income strategies had $800 million in net outflows in the quarter ended March 31 and $300 million in net outflows in the quarter ended June 30, 2015.
The earnings release said liquidity strategies had $149 billion in AUM as of June 30, up 2% from the three months earlier and up 13% from a year earlier. Alternative/other products had $115 billion in AUM, down 1% from March 31 and up 4% from June 30, 2015; equity strategies had $81 billion in AUM, flat from three months earlier and down 16% from a year before; and fixed-income strategies had $61 billion in AUM, down 2% from March 31 and down 5% year-over-year.
Alternative/other products includes credit strategies, funds of funds, multiasset, private equity and real estate strategies.
Net revenue for MSIM totaled $583 million in the second quarter, up 22% from the previous quarter and down 22% from the year-earlier quarter.
Investment management posted net income of $78 million for the second quarter, compared to net income of $50 million for the first quarter and $159 million during the second quarter of 2015.