Goldman Sachs Asset Management reported a fall in revenues and assets under management in the three months to the end of August, despite inflows of $12bn (€8.4bn) into its alternatives and fixed income funds over the period.

Net revenues of $1.13bn for the period were 3% down on the previous quarter and 6% lower than the $1.19bn posted in the same period last year. The slump was attributed to lower management and incentive fees due to there being one less week in this year's fiscal calendar.