BlackRock reported a 17 percent rise in total assets under management (AUM) to nearly $6 trillion in its third quarter results. The group saw $96 billion of total net inflows, bringing year-to-date total organic growth to $264 billion.
Long-term net inflows were positive across all major regions, with net inflows of $42.3 billion, $23.6 billion and $9.9 billion from clients in the Americas, EMEA and Asia-Pacific, respectively. At 30 September 2017, BlackRock managed 64 percent of its long-term AUM for clients in the Americas, 28 percent for clients in EMEA and eight percent for clients in Asia-Pacific.
The group also saw a 14 percent increase in revenue year-over-year driven by growth in base fees, performance fees and technology and risk management revenue and a 15 percent increase in operating income year-over-year reflecting operating margin expansion.
Cash management AUM increased 6 percent to $425.4 billion, driven by $20.4 billion of net inflows.
“BlackRock’s third quarter results reflect the continued growth of our global investment and technology platform and the trusted relationships we have built with our clients,” commented Laurence D. Fink, chairman and chief executive of BlackRock.
“Our ability to create investment solutions from a broad range of products – spanning index to illiquid alternatives – combined with industry leading technology and risk management, is resonating with clients and driving more impactful interactions than ever before. As we deepen and expand our relationships with clients and partners, we recognize and embrace the growing responsibility we have on a daily basis to help them achieve their goals."