American investment fund$Blackstone (BX.US)$Announce the results for the fourth quarter of last year. Quarterly net income was $558 million, down 60% year-on-year, with quarterly diluted net profit of 75 cents per share and quarterly dividend of 91 cents per share. Total quarterly income was $1.704 billion, down 70 per cent year-on-year. Of this total, net management and consultancy fees rose 13 per cent year-on-year to $1.648 billion, while fund performance fees rose 54 per cent to $210 million. However, the overall investment income was a loss of nearly $14 million, compared with $4.053 billion in the same period last year.

The company's quarterly distributable profit was $1.334 billion, down 41% year-on-year, and the quarterly distributable profit per share was $1.07, higher than the market's forecast of 95 cents. Of this total, net profit on asset sales fell 55 per cent year-on-year to $367 million, while expense-related profit fell 42 per cent to $1.066 billion.

By the end of last year, the company had $974.7 billion in assets under management, with an earlier target of $1,000bn by the end of last year.