(Reuters) – Blackrock reported on a level of assets on record management in the first quarter on Friday, while recording a drop in its profit over the period, in a context of financial market volatility fueled by the customs prices of US President Donald Trump.
“Uncertainty and anxiety about the future of markets and the economy dominate customer conversations. We have already observed similar periods during great structural upheavals in politics and markets, such as the financial crisis, COVID, and the outbreak of inflation in 2022,” said Director General Larry Fink in a press release.
The S&P 500 reference index fell 4.6% in the first quarter of 2025, its worst start to the year since 2022.
Total quarterly expenses increased to 3.58 billion dollars (3.16 billion euros), compared to $ 3.04 billion a year earlier.
However, assets under management of the New York company reached $ 11,580 billion, compared to 10,470 billion last year, investors turning to the stock-up funds and other low-risk products.
The quarterly adjusted profit reached $ 11.30 per share in the first three months of 2025, against $ 9.81 per share a year ago. The group’s net profit was $ 1.51 billion, or $ 9.64 per share, for the closed quarter on March 31, against $ 1.57 billion, or $ 10.48 per share, a year earlier.
The BlackRock action, which abandoned about 11% since the announcements of the “Liberation Day” of Donald Trump last week, increased by 1.3% in the trade in the fore-rail.
(Written by Pritam Biswas, Elena Smirnova, edited by Augustin Turpin)
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