(Reuters) – BlackRock Inc reported a record level of assets under management in the second quarter on Monday, as the company benefited from a rise in the market value of client assets and the popularity of its exchange-traded funds (ETFs) with investors.
The records reached by the main American indices in the last three months, the S&P 500 having notably recorded a jump of around 4% over the period, have supported the growth of assets under management of BlackRock, which stand at 10.650 billion dollars (9.770 billion euros), against 9.430 billion a year earlier.
Total inflows at the world’s largest asset manager were $81.57 billion in the second quarter, slightly above the $80.16 billion recorded a year ago.
Investment advisory and management fees, which are a percentage of assets under management and are BlackRock’s main source of revenue, rose 8.6% year-on-year to $3.72 billion.
In the quarter ended June 30, the group saw its net income climb to $1.50 billion, or $9.99 per share, from $1.37 billion, or $9.06 per share, a year ago.
(Report by Arasu Kannagi Basil in Bangalore, by Alban Kacher, edited by Augustin Turpin)
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