BlackRock’s assets under management totaled $4.594 trillion as of June 30, up 4% from three months earlier and up 19% from a year ago, said an earnings statement released Wednesday.
“Among institutional clients, we continued to see strong interest in our multiasset class offerings, such as our LifePath target-date suite and fiduciary mandates, as well as illiquid alternatives, where we raised more than $1 billion in commitments,” said Laurence D. Fink, BlackRock chairman and CEO, in a news release.
Net inflows to BlackRock’s long-term strategies were about $38 billion for the latest quarter, reflecting net inflows of $21.3 billion in fixed income, $9.7 billion to equities, $6.8 billion in multiasset strategies and $267 million into core alternatives.
Assets in BlackRock’s institutional business as of June 30 were $2.766 trillion, up 4% from March 31, while assets in its iShares ETF business totaled $993.83 billion, up 7% from three months earlier. Retail assets in the quarter were $534.5 billion, a 5% increase from March 31.
The firm reported revenue of $2.78 billion in the second quarter, up 4% from the previous quarter and up 12% from the second quarter of 2013. Net income was $808 million, up 7% from the prior quarter and up 11% from the year-earlier period.