Goldman Sachs 2003 Annual Report Asset Management and Securities Services
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chart: asset management and securities services net revenues (in millions)

chart: asset management net revenues (in millions)

chart: securities services net revenues (in millions)
Asset Management and Securities Services

We offer a broad array of investment strategies, advice and planning across all major asset classes to a diverse client base of institutions and individuals, and provide prime brokerage, financing services and securities lending services to mutual funds, pension funds, hedge funds, foundations, endowments and high-net-worth individuals.

Our Asset Management and Securities Services segment is divided into two components: Asset Management and Securities Services.

asset management
Asset Management provides investment advisory and financial planning services to a diverse client base of institutions and individuals and generates revenues in the form of management and incentive fees. Assets under management include our mutual funds, separate accounts managed for institutional and individual investors, our merchant banking funds and other alternative investment funds.

securities services
Securities Services includes prime brokerage, financing services and securities lending, all of which generate revenues primarily in the form of interest rate spreads or fees.
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