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Money Management

BlackRock reports 5% rise in assets, $94 billion of long-term strategy inflows

BlackRock (BLK) reported $5.69 trillion in assets under management as of June 30, up 5% from three months earlier and up 16% from a year earlier, the firm said in its earnings statement released Monday.

Net inflows to the firm's long-term strategies were $93.52 billion in the second quarter, compared to net inflows of $80.34 billion in the first quarter and net inflows of $1.53 billion in the year-earlier quarter. The inflows were driven by $42.92 billion going to fixed income, $38.37 billion to equities, $9.52 billion to multiasset strategies and $2.71 billion to alternatives.

BlackRock's institutional business experienced long-term net inflows of $13.25 billion for the second quarter, compared to net inflows of $11.2 billion for the first quarter and net outflows of $7.8 billion for the second quarter of 2016. Assets in BlackRock's institutional business were $3.17 trillion as of June 30, up 4% from March 31 and up 12.8% from June 30, 2016.

BlackRock's actively managed institutional strategies saw net inflows of $4.59 billion during the quarter, while passive strategies saw net inflows of $13.25 billion.

BlackRock's iShares exchange-traded fund business saw long-term net inflows of $73.8 billion in the second quarter, compared to net inflows of $64.5 billion in the first quarter and net inflows of $16 billion in the year-earlier quarter. iShares assets totaled $1.53 trillion as of June 30, up 8.5% from March 31 and up 33% from June 30, 2016.

BlackRock's global retail business saw long-term net inflows of $6.51 billion for the quarter, vs. net inflows of $4.6 billion in the prior quarter and $6 billion of net outflows in the quarter ended June 30, 2016.

The firm's revenue was $2.97 billion in the second quarter, up 5% from the previous quarter and up 6% from the second quarter of 2016. Net income was $857 million, down 1% from the prior quarter but up 9% from the same period a year ago.