GLOBAL - Goldman Sachs Asset Management has reported a record year, with net revenues increasing 45% from last year to US$4.29bn.
The firm attributed the growth to significantly higher management and other fees, due in the main part to strong growth in assets and higher incentive fees. Over 2006, assets under management increased to by $144bn - or 27% - to $676bn.
The $144bn increase breaks down to non-money market net asset inflows of $77bn, money market net asset inflows of $17bn, and market appreciation of $50bn, mainly in equity and fixed income assets.
Despite the stron gperformance, fourth quarter asset management net revenues were down 2% on third quarter revenues, standing at $933m. This represents a 19% increase on Q4 2005.
Here are key takeaways from our 2019 Asset Allocation Outlook on how we are positioning asset allocation portfolios in light of our outlook for the global economy and markets.
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