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BlackRock gets more assets from investors
THE WORLD’S biggest money manager BlackRock showed no signs of slowing down yesterday after taking assets under management to over $4.5 trillion (£2.6 trillion).
The US fund giant, led by chief executive Larry Fink, said profits rose 11 per cent hitting $808m versus $729m a year earlier.
BlackRock makes money by charging investors fees on the money it manages for them.
The group attracted $38bn more last quarter, helping take total assets to $4.59 trillion.
Investors pulled $5.3bn from equity funds, but this was offset by $30.4bn into exchange-traded fund and $9.6bn into bond funds.