Sunday, 22 July 2018
Latest news
Main » BlackRock assets climb above $6tn on record inflows

BlackRock assets climb above $6tn on record inflows

12 January 2018

The company also saw a 15% increase in operating income for the year.

Assets under management swelled to $6.29 billion vs. $5.15 billion year earlier.

U.S. investment behemoth Blackrock today posted record annual results, raking in $367bn (£269bn) during 2017. "Investments made in iShares ETFs drove expanded market share in 2017 and enabled us to once again capture the number one share of industry ETF flows globally, in the United States and Europe, and in both equity and fixed income products". Earnings on an adjusted basis were $1.02 billion, or $6.24 a share, up 20% from $852 million, or $5.14 a share for the same period.

BlackRock returned $2.8 billion to shareholders in 2017 and approved a 15% increase in the quarterly cash dividend to $2.88 per share. Analysts on an average expected the company to earn US$6.02 per share, according to Thomson Reuters.

'$367 billion of total net inflows for the year were the strongest flows in BlackRock's history, and included $103 billion in the fourth quarter.

BlackRock chief Larry Fink told CNBC on Friday that most people saving for retirement should have the bulk of their portfolios in stocks rather than bonds.

BlackRock assets climb above $6tn on record inflows