No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - BlackRock reported a rise in third-quarter profit on Wednesday as assets under management grew.
In the three months to the end of September, profit at the US asset manager increased to $1.66bn from $1.32bn in the same period a year earlier, or to $10.57 per share from $8.43.
Assets under management rose to $15.5 trillion from $13.5trn.
Chairman and chief executive Laurence D. Fink said: "Clients entrusted us with $205 billion of net inflows this quarter, and $869 billion over the last year. Our results reflect the scale of BlackRock, with 12% technology ACV growth and net inflows across every asset class, client type, region, and across active and index. Our track record of strong investment performance drove $66 billion of active net inflows, led by our fixed income and systematic franchises. iShares generated $135 billion of net inflows, diversified across categories and global product lines.
"BlackRock's ability to originate and structure at scale is leading to premier financing relationships and sourcing opportunities for our clients. We've raised $68 billion in private markets over the last twelve months, and our AI Infrastructure Partnership made its first deployment this quarter."
Shares of BlackRock were up 3.2% at 1308 BST in pre-market trade at $1,100.30.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.