long-term product offerings include active and index strategies .our active strategies seek to earn attractive returns in excess of a market benchmark or performance hurdle while maintaining an appropriate risk profile .we offer two types of active strategies : those that rely primarily on fundamental research and those that utilize primarily quantitative models to drive portfolio construction .in contrast , index strategies seek to closely track the returns of a corresponding index , generally by investing in substantially the same underlying securities within the index or in a subset of those securities selected to approximate a similar risk and return profile of the index .index strategies include both our non-etf index products and ishares etfs .althoughmany clients use both active and index strategies , the application of these strategies may differ .for example , clients may use index products to gain exposure to a market or asset class .in addition , institutional non-etf index assignments tend to be very large ( multi-billion dollars ) and typically reflect low fee rates .this has the potential to exaggerate the significance of net flows in institutional index products on blackrock 2019s revenues and earnings .equity year-end 2015 equity aum totaled $ 2.424 trillion , reflecting net inflows of $ 52.8 billion .net inflows included $ 78.4 billion and $ 4.2 billion into ishares and active products , respectively .ishares net inflows were driven by the core series and flows into broad developed market equity exposures , and active net inflows reflected demand for international equities .ishares and active net inflows were partially offset by non-etf index net outflows of $ 29.8 billion .blackrock 2019s effective fee rates fluctuate due to changes in aummix .approximately half of blackrock 2019s equity aum is tied to international markets , including emerging markets , which tend to have higher fee rates than u.s .equity strategies .accordingly , fluctuations in international equity markets , which do not consistently move in tandemwith u.s .markets , may have a greater impact on blackrock 2019s effective equity fee rates and revenues .fixed income fixed income aum ended 2015 at $ 1.422 trillion , increasing $ 28.7 billion , or 2% ( 2 % ) , from december 31 , 2014 .the increase in aum reflected $ 76.9 billion in net inflows , partially offset by $ 48.2 billion in net market depreciation and foreign exchange movements .in 2015 , active net inflows of $ 35.9 billion were diversified across fixed income offerings , with strong flows into our unconstrained , total return and high yield strategies .flagship funds in these product areas include our unconstrained strategic income opportunities and fixed income strategies funds , with net inflows of $ 7.0 billion and $ 3.7 billion , respectively ; our total return fund with net inflows of $ 2.7 billion ; and our high yield bond fund with net inflows of $ 3.5 billion .fixed income ishares net inflows of $ 50.3 billion were led by flows into core , corporate and high yield bond funds .active and ishares net inflows were partially offset by non-etf index net outflows of $ 9.3 billion .multi-asset class blackrock 2019s multi-asset class teammanages a variety of balanced funds and bespoke mandates for a diversified client base that leverages our broad investment expertise in global equities , bonds , currencies and commodities , and our extensive risk management capabilities .investment solutions might include a combination of long-only portfolios and alternative investments as well as tactical asset allocation overlays .component changes in multi-asset class aum for 2015 are presented below .( in millions ) december 31 , 2014 net inflows ( outflows ) acquisition ( 1 ) market change fx impact december 31 , 2015 asset allocation and balanced $ 183032 $ 12926 $ 2014 $ ( 6731 ) $ ( 3391 ) $ 185836 .
[['( in millions )', 'december 312014', 'net inflows ( outflows )', 'acquisition ( 1 )', 'market change', 'fx impact', 'december 312015'], ['asset allocation and balanced', '$ 183032', '$ 12926', '$ 2014', '$ -6731 ( 6731 )', '$ -3391 ( 3391 )', '$ 185836'], ['target date/risk', '128611', '218', '2014', '-1308 ( 1308 )', '-1857 ( 1857 )', '125664'], ['fiduciary', '66194', '3985', '2014', '627', '-6373 ( 6373 )', '64433'], ['futureadvisor', '2014', '38', '366', '-1 ( 1 )', '2014', '403'], ['multi-asset', '$ 377837', '$ 17167', '$ 366', '$ -7413 ( 7413 )', '$ -11621 ( 11621 )', '$ 376336']]
( 1 ) amounts represent $ 366 million of aum acquired in the futureadvisor acquisition in october 2015 .the futureadvisor acquisition amount does not include aum that was held in ishares holdings .multi-asset class net inflows reflected ongoing institutional demand for our solutions-based advice with $ 17.4 billion of net inflows coming from institutional clients .defined contribution plans of institutional clients remained a significant driver of flows , and contributed $ 7.3 billion to institutional multi-asset class net new business in 2015 , primarily into target date and target risk product offerings .retail net outflows of $ 1.3 billion were primarily due to a large single-client transition out of mutual funds into a series of ishares across asset classes .notwithstanding this transition , retail flows reflected demand for our multi-asset income fund family , which raised $ 4.6 billion in 2015 .the company 2019s multi-asset class strategies include the following : 2022 asset allocation and balanced products represented 49% ( 49 % ) of multi-asset class aum at year-end , with growth in aum driven by net new business of $ 12.9 billion .these strategies combine equity , fixed income and alternative components for investors seeking a tailored solution relative to a specific benchmark and within a risk budget .in certain cases , these strategies seek to minimize downside risk through diversification , derivatives strategies and tactical asset allocation decisions .flagship products in this category include our global allocation andmulti-asset income suites. .

Question: what percent of the muilti asset value is from the asset allocation and balanced section?
Answer: 49.38%