Positive

From Investing.com: 2024-10-11 06:13:30

BlackRock’s assets under management hit a record high in Q3, reaching $11.48 trillion. The firm saw $160 billion in long-term net flows and a total of $221.18 billion in net flows. The majority of inflows went to ETFs and fixed-income products.

The broader stock market rallied in Q3, with the S&P 500 gaining 5.4% and MSCI’s global stock gauge rising 6.2%. Asset managers benefited from the renewed optimism about the economy and the Fed’s easing cycle, leading to increased inflows into riskier assets.

BlackRock’s net income rose to $1.63 billion in Q3, up from $1.60 billion a year earlier. The company’s shares have seen an 18% increase in 2024. The strong financial performance reflects the positive market conditions and investor sentiment towards riskier assets.



Read more at Investing.com: BlackRock hits record high $11.5 trillion in assets on market rally, ETF boost By Reuters