Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
BlackRock assets under management reach record $10.6trn
(Sharecast News) - BlackRock announced a robust set of second-quarter results on Monday, as its total assets under management reached a fresh record amid growth across its platform. For the three months ended 30 June, BlackRock reported diluted earnings per share of $9.99, or $10.36 as adjusted.
The company achieved $82 billion in quarterly net inflows, contributing to a total of $139 billion in net inflows for the first half of the year.
That was reportedly driven by record performance in its exchange-traded funds (ETFs), and solid inflows across various product types.
BlackRock's assets under management (AUM) reached $10.6trn, a year-on-year increase of $1.2trn and a new record level.
That growth was fuelled by consistent organic growth and favourable market movements.
Revenue increased 8% year-on-year, primarily due to the positive impact of markets on average assets under management, organic base fee growth, and higher performance fees and technology services revenue.
Operating income saw an 11% increase on the year, or 12% on an adjusted basis, while diluted earnings per share rose 10%, or 12% as adjusted.
The company also repurchased $500m worth of shares in the current quarter, underscoring its commitment to delivering value to shareholders.
Chairman and chief executive officer Laurence Fink highlighted the firm's execution on a broad range of opportunities, including private markets, Aladdin, and whole portfolio solutions across ETFs and active management.
"At the same time, we are opening up meaningful new growth markets for our clients and shareholders with our planned acquisitions of Global Infrastructure Partners and Preqin," Fink added.
"BlackRock has long standing relationships with corporates and governments around the world as a long-term investor in public equity and debt.
"We have strong sourcing capabilities, and we are transforming our private markets platform to bring even more benefits of scale and technology to our clients."
Fink said BlackRock was on track to close its planned acquisition of Global Infrastructure Partners in the third quarter, which was expected to double private markets base fees and add around $100bn of infrastructure assets under management.
"And just a few weeks ago, we announced our agreement to acquire Preqin, a leading private markets data provider."
At 0737 EDT (1237 BST), shares in BlackRock were up 1.03% in pre-market trading in New York, at $836.50.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.