BlackRock reported $5.977 trillion in assets under management as of Sept. 30, up 5% from three months earlier and up 17% from a year earlier, the firm said in its earnings statement released Wednesday.
Net inflows to the firm's long-term strategies were $75.8 billion in the third quarter, compared to net inflows of $93.5 billion in the second quarter and net inflows of $55.2 billion in the year-earlier quarter.
The inflows were driven by $59.55 billion going to fixed income, $11.94 billion to equities and $4.33 billion to multiasset strategies. These were partially offset by $14 million of net outflows from alternatives.
BlackRock's institutional business experienced long-term net inflows of $16.13 billion for the third quarter, compared to net inflows of $13.25 billion for the second quarter and net inflows of $6.2 billion for the third quarter of 2016. Assets in BlackRock's institutional business were $3.3 trillion as of Sept. 30, up 4.1% from June 30 and up 13% from Sept. 30, 2016.
