BlackRock Assets Under Management Top $15 Trillion for First Time
Summary
- BlackRock said assets under management topped $15 trillion for the first time after recording $192 billion of net inflows in the second quarter.
- Long-term investment products drew $199 billion of net inflows in the second quarter, while ETF products attracted $178 billion and MMF products posted $7 billion of net outflows.
- BlackRock also manages spot ETF products tied to digital assets such as Bitcoin (BTC) and Ether (ETH), and Larry Fink said market fundamentals remain solid.
Forecast Trend Report by Period
BlackRock’s assets under management surpassed $15 trillion for the first time.
The world’s largest asset manager said on July 15 that net inflows totaled $192 billion in the second quarter, pushing total assets under management above $15 trillion, Bloomberg reported.
Long-term investment products attracted $199 billion of net inflows in the quarter, exceeding the $170 billion expected by analysts surveyed by Bloomberg. Exchange-traded funds drew $178 billion, accounting for most of the new money. Cash and money market funds, by contrast, saw $7 billion of net outflows.
BlackRock also manages spot ETFs backed by digital assets including Bitcoin and Ether.
Chief Executive Officer Larry Fink said market fundamentals remain solid and new technologies are driving high margins and profit growth.
Uk Jin
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