ETF business helps BlackRock beat profit estimates
‘I think it’s quite evident … that we are winning more of our clients’ share of wallet,’ CEO Larry Fink says
15 January 2020 - 18:07
New York — BlackRock, the world’s largest asset manager, beat analysts’ estimates for quarterly profit on Wednesday. That was helped by strong flows into its exchange-traded fund (ETF) business that boosted overall assets under management to a record $7.43-trillion.
A rally in global equity markets and strong inflows across business segments helped the company lure $128.84bn in new money during the fourth quarter to the end of December...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.