BlackRock reported a record $221 billion of total net inflows for Q3, helping take its assets under management (AUM) to $11.5 trillion.
AUM rose by $2.4 trillion year-over-year, driven by $456 billion of net inflows and positive market movements over the same timeframe.
The growth in flows over Q3 represent 8% annualised organic asset growth and the firm said that net flows were positive across client types, product types, active and index strategies, and region.
Specifically in Europe, Middle East & Africa, net flows for the quarter were $20 billion, and $76 billion for the year to date. These numbers compare with $111 billion and $200 billion, respectively, in the Americas.
The numbers overall translate into a 15% increase in revenue year-over-year, driven by the positive impact of markets on average AUM, organic base fee growth, and higher performance fees.
Laurence Fink, chairman and CEO, said the firms “ambitious” strategy was working.
“We are effectively leveraging our technology, scale, and global footprint to deliver profitable growth. Quarterly revenue and operating income both set new records, up 15% and 26% year-over-year, respectively.”
He added: “Through coordinated investments and initiatives, we are evolving our private markets capabilities to best serve our clients. We’re already seeing the power of BlackRock and GIP together as we drive access to the enormous investment potential of infrastructure, especially to support AI innovation. We believe the model portfolio solution we are building will democratise retail access to private markets. And our planned acquisition of Preqin will enhance data and risk analytics needed to support growing private markets allocations.”
He said BlackRock has generated a compounded annual total return of over 20% for shareholders since the firm’s IPO 25 years ago.
