Fixed Income Demand Boosts BlackRock But Lower Fees Weigh On Earnings
BlackRock CEO Larry Fink
US asset management giant BlackRock saw a record annualised organic asset growth rate of 9% in Q2, driven by record-breaking fixed income and cash activity, but other factors contributed to a 3% earnings per share (EPS) decrease, the company said on Friday.
BlackRock saw net inflows of $151bn (£120.5bn) during Q2 2019, meaning assets under management (AUM) increased by 9% to $6.8trn from $6.3trn in Q2 2018. Flows in the corresponding period last year were...
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