NEW YORK Feb 12 Morgan Stanley's
investment management unit is setting a goal of reaching $500
billion in assets and a 20 percent return-on-equity by 2016, the
head of that business said on Wednesday.
Morgan Stanley Investment Management now has $338 billion in
assets under management, well below top players like BlackRock
Inc, which has $3.79 trillion in assets, according to a
presentation at a Credit Suisse conference given by Greg
Fleming, president of the Wall Street bank's wealth and
investment management units.
Morgan Stanley is in the process of reducing the capital it
has in hedge funds and private-equity funds to comply with the
Volcker rule, while trying to increase fee revenue from other
types of funds, Fleming said.