Goldman Sachs Group said today that its asset management business posted record net revenues of $1.47 billion for the year, an increase of 10% from 2000.

The windfall was driven by increasing assets under management, which grew 11% during the year to $351 billion with inflows of $67 billion. The inflows were mostly directed at money market products. And the boost offset declining equity asset values that resulted from market depreciation, the firm said.

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