Merrill Lynch and BlackRock both reported increased assets under management for the fourth quarter and for 2005.
Merrill Lynch reported $544 billion in assets under management at the end of the fourth quarter, up 3.8% over the previous quarter, according to an SEC filing. Assets increased 8.6% for the year. Institutional assets increased 1.6% during the fourth quarter to $250 billion, up 4.2% from a year earlier.
BlackRock reported $452.7 billion in assets under management at the end of the fourth quarter, up 5.8% over the third quarter and 32.5% for the year. Roughly half of the year's gains came from the company's acquisition of State Street Research & Management, said Barbara Novick, managing director and head of new business development. BlackRock had $303.9 billion in fixed-income assets as of Dec. 31, up 26.3% from the end of 2004; $86.1 billion in cash management assets, up 10.3%; $37.3 billion in equity assets, up 152%; and $25.3 billion in alternative investment assets, up 209%.