Net revenues at Goldman Sachs investment management unit were US$1.33 billion for the second quarter, essentially unchanged compared with the second quarter of 2012 and the first quarter of 2013.
Goldman Sachs stated that the net revenues in the second quarter of 2013 included higher management and other fees, primarily due to higher average assets under supervision and higher transaction revenues compared with the second quarter of 2012.
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During the quarter, long-term assets under supervision decreased US$4 billion, reflecting market depreciation of US$11 billion, primarily in fixed income assets, partially offset by net inflows of US$7 billion.
The net outflows in assets under supervision were US$2 billion, as outflows in alternative investments and liquidity products were offset by fixed income and equity inflows.
Total assets under supervision decreased US$13 billion, or 1%, during the quarter to US$955 billion.
Goldman Sachs Group reported total net revenues of US$8.61 billion for the second quarter ended 30 June 2013, a 30% increase compared to US$10.09 billion for the previous year period.
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By GlobalDataThe firm reported second quarter net earnings of US$1.93 billion, compared to US$962 million for the corresponding period a year ago.
