For the second quarter of 2017, BlackRock has reported ‘record’ $94 billion of long-term net inflows, positive across client type, product type and investment style.
$104 billion of total net inflows in the second quarter were driven by breadth of diversified business model and investments the firm has made to grow its platform over time.
Twelve percent growth in technology and risk management revenue year-over-year reflects strength of globally integrated investment and technology platform, said the firm.
BlackRock also reported 10 percent increase in diluted EPS year-over-year; and “consistent capital management with $275 million of quarterly share repurchases”.
“Going forward, technology-enabled scale will be critical for every aspect of an asset manager’s business: client service, alpha-generation and operational excellence,” said Laurence D. Fink, chairman and chief executive of BlackRock.
“BlackRock’s technology and risk management revenue grew 12 percent year over year, driven by Aladdin. In addition, our first three Aladdin Risk for wealth management clients are now live on the platform, benefitting from greater risk transparency and portfolio construction capabilities. We continued to expand our digital distribution offerings this quarter with the announced acquisition of Cachematrix and minority investment in Scalable Capital. Both transactions illustrate BlackRock’s use of technology to provide enhanced value and innovative solutions for clients.”
BlackRock, which has $5.7 trillion in AUM, provides investment management, risk management and advisory services for institutional and retail clients.