Morgan Stanley (NYSE:MS) Q4 2022 Earnings Call Transcript

Operator: We’ll take our last question from Matt O’Connor with Deutsche Bank.

Matt O’Connor: I was wondering if you could talk a bit more about the flows within Investment Management, both the long-term and liquidity and how you’re thinking about the outlook there specifically in the long term?

Sharon Yeshaya: Sure, absolutely. The long term, obviously, what we saw over the course of this year was some movements in equities. That was the most notable. That obviously had to do with some of the higher growth specific — the specific funds that we have there. But I think you have to really think about those long terms from a long-term basis, right? So you’re just focusing on this year, but there were many, many years of very strong flows into that business. What’s important is actually the diversification that we had because of Eaton Vance, where we have other products that we’re able to offset some of the long — some of the outflows in, say, the equity product, for example. So parametric is one where we continue to see inflows throughout even the course of this year.

We’re really focused on the secular growth trends, sustainability, alternatives and customization more broadly. Those are the things that we think as we move forward, we’ll be positive for those line items.

Operator: There are no further questions at this time. Ladies and gentlemen, this concludes today’s conference call. Thank you, everyone, for participating. You may now disconnect.