The Wall Street investment group has logged a drop in net revenues at the overall firm level and in its investment management arm.

Goldman Sachs said that net revenues from investment management were $1.42 billion for the third quarter of 2015, which is 3 per cent lower than a year ago and 14 per cent lower than the prior quarter.

The year-on-year dip in net revenues from investment management was due to lower incentive fees, partially offset by higher transaction revenues, the US-listed bank reported late last week, as other US firms such as JP Morgan, Citi, Bank of America and Wells Fargo also issued results for the quarter.

During the third quarter, Goldmans' total assets under supervision in investment management rose by $6 billion to $1.19 trillion, however.

The Goldman Sachs Group reported net revenues of $6.86 billion – down 18 per cent year-on-year – and net earnings of $1.43 billion – down 36 per cent year-on-year – for the third quarter ended 30 September, 2015.

Diluted earnings per common share were $2.90, compared with $4.57 for the third quarter of 2014 and $1.98 for the second quarter of 2015.

“We experienced lower levels of activity and declining asset prices during the quarter, reflecting renewed concerns about global economic growth,” said Lloyd Blankfein, chairman and chief executive.

The Wall Street firm was expected to earn $2.91 a share on revenues of $7.13 billion, according to the average estimates of analysts polled by Thomson Reuters, the Wall Street Journal said. Goldman's has the greatest dependence on Wall Street of its "big bank" peers, the WSJ also noted.