Morgan Stanley 2009 Annual Report Download - page 64

Statistical Data.
The results presented in the statistical tables below exclude the operations of Retail Asset Management, as those
results are included in discontinued operations for all periods presented (see Note 23 to the consolidated financial
statements).
Asset Management’s year-end and average assets under management or supervision were as follows:
At
December 31,
2009
At
December 31,
2008(1)
Average for
2009
Fiscal
2008(1)
Fiscal
2007(1)
One Month
Ended
December 31,
2008(1)
(dollars in billions)
Assets under management or supervision by
asset class:
Core asset management:
Equity ........................... $ 81 $ 63 $ 68 $102 $117 $ 62
Fixed income—long term ............ 54 56 52 71 69 56
Money market ..................... 59 81 65 107 90 81
Alternatives(2) .................... 42 41 37 53 46 41
Total core asset management ..... 236 241 222 333 322 240
Merchant banking:
Private equity ..................... 4 4 4 3 2 4
Infrastructure ...................... 4 4 4 3 1 4
Real estate ........................ 15 35 21 37 26 34
Total merchant banking ......... 23 43 29 43 29 42
Total assets under management or
supervision ................. 259 284 251 376 351 282
Share of non-controlling interest
assets(3) .................... 7 6 6 7 6 6
Total ........................ $266 $290 $257 $383 $357 $288
(1) Prior-period information has been reclassified to conform to the current period’s presentation.
(2) The alternatives asset class includes a range of investment products such as hedge funds, funds of hedge funds and funds of private
equity funds.
(3) Amounts represent Asset Management’s proportional share of assets managed by entities in which it owns a non-controlling interest.
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