BlackRock saw a record USD 13.464 trillion in managed assets, up 17.3% from last year. The company benefits from flows into its passive offerings and market gains, outperforming traditional asset managers. Net long-term inflows of USD 171 billion exceeded expectations, with iShares platform driving growth. BlackRock’s strong performance leads to a potential increase in fair value estimate.

Read more at Morningstar: Market Gains and Inflows Drive AUM and Revenue to Record Highs