BlackRock's assets under management totaled $4.401 trillion as of March 31, up 2% from three months earlier and up 12% from a year ago, according to an earnings statement released Thursday.
“The strength and stability of our diversified platform again drove our results. Our $26.7 billion in long-term net inflows for the quarter reflect positive flows across all asset classes, client types and regions, and our focus on long-term strategic themes continued to resonate,” said Laurence D. Fink, BlackRock chairman and CEO, in a news release.
Net inflows to BlackRock's long-term strategies were $26.73 billion for the latest quarter. That total reflected net inflows of $15.64 billion in fixed income, $5 billion in multiasset strategies, $3.82 billion to equities and $2.27 billion into core alternatives.
Assets in BlackRock's institutional business as of March 31 were $2.667 trillion, up 2.2% from Dec. 31, while assets in its iShares ETF business totaled $930.38 billion, up 1.75% from three months earlier. Retail assets in the quarter were $508.72 billion, a 4.3% increase from Dec. 31.
Revenue for the money manager was $2.67 billion during the first quarter, down 4% from the previous quarter but up 9% from the first quarter of 2013. Net income attributable to BlackRock, meanwhile, was $756 million, down 10% from the prior quarter but up 20% from the year-earlier period.