Goldman Sachs assets under supervision drop 1% in quarter to $1.54 trillion

Goldman Sachs reported $1.54 trillion in assets under supervision for its Goldman Sachs Asset Management and wealth management businesses as of Dec. 31, down 1% from three months earlier and up 3% from a year earlier, its fourth-quarter earnings report issued Wednesday said.

Net inflows for the fourth quarter were $3 billion, compared to net inflows of $13 billion for the previous quarter. In the fourth quarter of 2017, Goldman saw net outflows of $1 billion.

For the fourth quarter, liquidity strategies had new inflows of $39 billion; fixed income saw net inflows of $8 billion; equities saw net outflows of $1 billion and alternative strategies had $4 billion in net outflows.

By asset class, Goldman Sachs reported $167 billion in alternative strategies, down 5% from the previous quarter and down 1% for the 12 months. Equity products had $301 billion in assets, down 14% from the previous quarter and down 6% year over year; liquidity had $397 billion, up 11% from Sept. 30, and up 15% for the year. Meanwhile fixed income assets grew slightly, with $677 billion, up 1% from the previous quarter and up 3% compared to 12 months prior.

Net revenues in investment management for the fourth quarter were $1.7 billion, remaining unchanged from the previous quarter but up 2% from the fourth quarter of 2017.

The year-over-year increase in net revenues reflected higher incentive fees and transaction revenues, the earnings report said.

Investment management and other fees were $1.37 billion for the quarter ended Dec. 31, remaining unchanged compared to the fourth quarter of 2017, and down 1% from the previous quarter, ending Sept. 30.