Blackrock asset management at record high

Blackrock asset management at record high

BlackRock recently reported first quarter results. The assets under management of the world's largest asset manager rose by 15 percent within twelve months to a record value of 10.5 trillion US dollars. This increase was achieved through high net inflows of customer funds and positive developments on the markets.

Compared to the previous year, BlackRock reported a $1.4 trillion increase in assets under management. The company's revenue rose 11 percent to $4.7 billion, leading to an 18 percent increase in operating income to $1.7 billion. Management also bought back shares worth $375 million and increased the quarterly dividend by two percent to $5.10 per share.

Shareholders reacted positively to the results, with BlackRock shares rising as much as three percent in pre-market trading. CEO Larry Fink expressed optimism, highlighting accelerated asset and base fee growth. Long-term net inflows in the first quarter were $76 billion, already accounting for nearly 40 percent of full-year 2023 levels.

High demand for BlackRock's wealth management services in the first quarter reflects positive market sentiment that has driven stocks and other assets to record highs. With a strong growth trend, Blackrock continues its path to success and consolidates its position as one of the leading players in the global asset management space.