Sign up USA
Proactive Investors - Run By Investors For Investors

Surge into passive funds boosts Blackrock

Assets under management at the end of March jumped to US$5.4trn
picture of Wall Street
Trackers on the up for Blackrock

A switch by investors into passives or trackers helped fund manager Blackrock Inc (NYSE:BLK) surge past market forecasts in its latest quarter.

Assets under management at the end of March jumped to US$5.4trn from US$(4.74trn, while revenues rose almost 8% to US$2.82bn.

The fund giant has been shifting emphasis to more automated trading in recent months at the expense of its stock picking/active operations as that has been the trend for investors recently.

Over the past three months, the group’s active funds saw a US$1.84bn decline in money held in managed products while $82.2bn surged into its iShares and indexed arms.

Earnings for the quarter were US$5.23 against forecasts of about US$4.90 with profits at US$862mln (US$657mln). 

PhilW.jpg


Register here to be notified of future BLK Company articles
View full BLK profile View Profile

BlackRock Timeline

Newswire
October 14 2015

Related Articles

picture of twenty pound note
April 19 2017
RDML specialises in senior debt packages for small to medium-sized companies
Office block
June 01 2017
With net assets of €41mln, and a market capitalisation of £19mln (roughly €21mln), something has to give
different currencies
May 19 2017
The decision to complement its retail offering with a corporate service is quite literally paying off
Copyright © Proactiveinvestors.com, 2017. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use