BlackRock reported an $11.3 billion, or 4%, increase in assets under management in the first quarter, according to today's 10-Q filing. Of that amount, roughly $6.3 billion was net new funds and $5 billion, market appreciation. New assets included about $5 billion in separate accounts and $1.4 billion in mutual fund sales.
For the year, assets under management rose 17% to roughly $320.7 billion, from $273.6 billion at the end of the first quarter last year, according to the report. The increase was due to an additional $37.6 billion in separate accounts and $9.4 billion in mutual funds.
Within separate accounts, about $22 billion of the gain was new money and $15.6 billion was from market appreciation, according to the report. Net separate account redemptions totaled $3.8 billion. The $9.4 billion increase in mutual fund assets since March 31, 2003, reflected new money of $7.6 billion and market appreciation of $1.8 billion.