Donahue said equity assets increased by $3.2 billion, or 3%, in the fourth quarter versus the prior quarter, with about half of the increase coming from net sales. He pointed to record gross equity sales of $31 billion in 2025, including $9 billion in the fourth quarter. Fourth-quarter net equity sales were $1.5 billion, and full-year 2025 net equity sales were $4.6 billion, which management said was a substantial improvement from net redemptions of $10.7 billion in 2004.Money market assets rose by $30 bill ...