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BlackRock lifts assets under management to a record $15.34 trillion
BlackRock says second-quarter net inflows accelerated across ETFs, private markets, active fixed income, and systematic equity strategies, supporting revenue and profit growth potential.
BlackRock reported second-quarter results that pushed its assets under management to a record $15.34 trillion, as strong investor demand drove growth across multiple parts of the firm’s business, according to Yahoo Finance.
The outlet said net inflows accelerated across ETFs, private markets, active fixed income, and systematic equity strategies, and that both top and bottom lines exceeded Wall Street expectations.
It also noted that rising AUM matters because it expands the asset base on which management fees are earned, a factor that can support future revenue and profit.
Shares of BlackRock (BLK) were described as moving sharply higher after the earnings report, with the article citing the stock’s prior performance as largely flat over the past year and modestly positive year to date.