BlackRock’s assets under management reached $4.89 trillion as of June 30, up 3% from three months earlier and up 4% from a year earlier, BlackRock said in its earnings statement released Thursday.
Net inflows to the firm’s long-term strategies were $1.53 billion in the second quarter, compared to net inflows of $36 billion in the previous quarter and net outflows of $7 billion in the year-earlier quarter. The inflows were driven by $5.49 billion and $1.36 billion going to fixed income and alternatives, respectively. Meanwhile, multiasset and equity strategies saw net outflows of $3.1 billion and $2.22 billion, respectively.
BlackRock’s institutional business experienced long-term net outflows of $7.8 billion for the quarter, compared to net inflows of $12 billion in the first quarter and net outflows of $29 billion in the second quarter of 2015. Assets in BlackRock’s institutional business were $2.81 trillion as of June 30, up 1.8% from March 31 and up 0.4% from June 30, 2015.
BlackRock’s iShares exchange-traded fund business saw long-term net inflows of $16 billion, compared to $24 billion in the previous quarter and $11 billion in the year-earlier quarter. iShares assets totaled $1.15 trillion as of June 30, up 1.8% from March 31, and up 6.5% from June 30, 2015.
BlackRock’s global retail business saw long-term net outflows of $6 billion, vs. $359 million in the prior quarter and $11 billion in net inflows in the year-earlier quarter.
The firm’s revenue was $2.8 billion in the second quarter, up 7% from the previous quarter but down 3% from the second quarter of 2015. Net income was $789 million, up 20% from the prior quarter but down 4% from the year-earlier quarter.
