Goldman Sachs reported $878 billion in assets under management for its Goldman Sachs Asset Management and wealth management businesses as of Sept. 30, up 3% from both a quarter and a year before, according to its third-quarter earnings statement issued Thursday.
Assets under supervision, which includes other client assets along with AUM, totaled $991 billion for the latest quarter, up 4% from both three months and a year earlier.
For the latest quarter, market-related gains accounted for $19 billion in new AUS. Net inflows accounted for another $17 billion, compared to net outflows of $2 billion in the previous quarter and net inflows of $13 billion for the third quarter 2012.
Fixed-income strategies had the largest net inflows at $12 billion, compared to net inflows of $10 billion in the second quarter. Equity net inflows were $4 billion, up from $1 billion last quarter, while liquidity products had $1 billion in net inflows, compared to $9 billion in net outflows in the second quarter. Alternative strategies were flat compared to $4 billion in net outflows in the previous quarter.
Overall, fixed-income makes up $429 billion of AUS, up 4% from the end of the second quarter and 6% from a year earlier; $228 billion in liquidity products, relatively flat for the quarter and down 3% for the year; equity AUS was at $190 billion, up 10% from the second quarter and 22% from third quarter 2012; and $144 billion in alternatives, up 1% from the second quarter and down 6% from the previous year.
Investment management revenues for the latest quarter came to $1.2 billion, down 9% from prior quarter and up 2% from the year-earlier quarter.
Third-quarter investment management fees were $1.1 billion, down 1% from the second quarter and 7% higher than the third quarter of 2012.