BlackRock snags more assets in market rout, boosts profit [Reuters]
BlackRock, Inc. (BLK)
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Source: Reuters
BlackRock snags more assets in market rout, boosts profit | Reuters 3 Min Read NEW YORK (Reuters) - BlackRock Inc ( BLK.N ), the world’s largest asset manager, generated higher profit during the first quarter by luring more money from investors even as stock and bond markets fell. Fund manager profits typically decline during market routs because their fees are based on the value of customer assets. But BlackRock benefited from its large footprint in exchange-traded funds (ETFs), which have been taking market share away from pricier investment products for several years. BlackRock attracted nearly $57 billion in new cash from clients in the latest quarter. Its iShares ETFs unit was the biggest contributor, drawing $35 billion in net inflows. “It’s better to be BlackRock in this atmosphere,” BlackRock Chief Executive Larry Fink said in an interview. “We have always differentiated ourselves in more volatile times.” Markets swung wildly during the first three months of the year as earl
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BLK
Earnings
- 4/12/24 - Beat
BLK
Sec Filings
- 4/26/24 - Form PX14A6G
- 4/12/24 - Form 8-K
- 4/10/24 - Form PX14A6G
- BLK's page on the SEC website