Recently, Goldman Sachs
], a publicly traded investment bank based in New York, New York, had its balance sheet equity, credit, and real estate added to its asset management reporting.
| Sheila H. Patel|
Goldman Sachs Asset Management
On their Q4 earnings call (as transcribed by Seeking Alpha
), Stephen Scherr
, chief financial officer, told analysts:
Collectively our Asset Management activities produced net revenues of $3 billion in the fourth quarter, up 52 percent versus last year, driven by stronger equity investment performance. For the full-year, Asset Management generated net revenues of $9 billion in line with a strong 2018 as growth in equity investment revenues offset lower incentive fees. Fourth-quarter management and other fees related to client assets under supervision totaled $666 million, up 6 percent versus a year-ago offset by lower incentive fees. Across the Asset Management segment, we managed AUS totaling $1.3 trillion at year-end, and we'll cover firmwide AUS trends in a few moments."
According to their earnings presentation,
Asset Management made up 25 percent of Goldman Sachs' full year net revenue. Net revenue for GSAM 4Q19 was at $3,003 million, up 85 percent from 3Q19, and up 52 percent from 4Q18. Assets under supervision for 4Q19 were at $1,298 billion, up 5 percent from 3Q19 at $1,232 billion, and up 19 percent from 4Q18 at $1,087 billion.
Overall, Goldman Sachs missed
analysts' Q4 EPS expectations of $5.49 by $0.80. Their revenue of $9.96 billion beat expectations by $1.39 billion
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