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BlackRock, Inc. (NYSE:BLK)’s AUM Surges By 10% In Third-Quarter

Boston, MA 10/15/2014 (wallstreetpr) – It was the day when BlackRock, Inc. (NYSE:BLK) published its third-quarter financial performance. The main highlight of the results was the 10% year-over-year growth in the company’s asset under management. The asset manager also reported surge in net income from $730 million or $4.21 per share in the third quarter of 2013 to $917 million or $5.37 per share this year.

AUM Soars

BlackRock, Inc. (NYSE:BLK) assets under management for the reported quarter increased to $4.5 trillion. Also, the company’s net inflows increased at the rate of 4% to 28.7 billion in net inflows during the period. On the basis of product type, the net flows were divided into three heads, that is, equity, Fixed Income and Multi Asset. The inflows in Fixed Income were higher at $11.1 billion, followed by $10.2 billion in equity and $7.4 billion in Multi-Asset. The asset manager’s Alternative fund witnessed an outflow of $80 million during the reported period.

Further, on the basis of region wise asset under management, BlackRock, Inc. (NYSE:BLK) reported positive net inflows from all the regions, that is, Americas, EMEA and Asia-Pacific. The net inflows from these regions were $10.8 billion, $7.4 billiona and $10.5 billion respectively. Among the client heads, Retail segment received $4.9 billion of net inflows, while the iShares Exchange Traded Fund segment received the highest net flow of $18.2 billion in the reported quarter. BlackRock, Inc. (NYSE:BLK)’s institutional segment contributed $5.6 billion to the net flows in the third-quarter.

Outperforming Benchmark

During the call, the company highlighted that nearly 87% of its fixed income assets, which are taxable, are outperforming their respective benchmarks or peer median, when compared for a three-year period. Moreover, the company has been able to deliver better returns to its customers amid a challenging interest rate scenario prevalent globally. The company sees fixed income platform as promising product in the fourth quarter as well.

Published by Lisa Ray

Lisa has a Bachelor of Arts in journalism from Purdue University and 3 years of experience in the publishing field.

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