In the fourth quarter, by asset class, equities, fixed income, and multiasset and alternatives had net outflows of $5 billion, $12 billion and $4 billion, respectively, while liability-driven investments saw net inflows of $19 billion, according to a financial supplement to the earnings release.
Index strategies saw net outflows of $4 billion, while cash saw net inflows of $27 billion, respectively, in the fourth quarter, according to the supplement.
Total net inflows from the asset classes amounted to $21 billion in the fourth quarter, while the net market impact and net currency impact added $18 billion and $53 billion, respectively, in net inflows, and the Alcentra divestiture totaled $32 billion in net outflows, the supplement added.
For the 12 months ended Dec. 31, net inflows from the asset classes totaled $18 billion, while the net market impact and net currency impact decreased assets by $471 billion and $113 billion, respectively, according to data in the supplement.
Within the investment and wealth management division, fourth-quarter revenues totaled $825 million, a 4% decline from the third quarter, and a 19% drop from the year-earlier quarter, the supplement said.
The investment management segment itself posted total revenue of $550 million in the fourth quarter, a 5% decline from the third quarter, and a 22% plunge from the fourth quarter of 2021.