Long-term net inflows into BlackRock's exchange traded funds in the first three quarters of 2021 exceeded all of 2020, said Laurence D. Fink, chairman and CEO, in a third-quarter earnings call Wednesday.
For the three months ended Sept. 30, long-term net ETF inflows totaling $58 billion were driven by growth across all of the manager's core strategies, Mr. Fink said in the call.
The net inflows brought the year-to-date total to $201 billion. BlackRock's ETFs brought in a total of $185 billion in net inflows in all of 2020.
"We are seeing this momentum across the entire ETFs industry as more and more investors discover the convenience, the efficiency that the ETFs vehicle has," Mr. Fink said in a draft of the money manager's earnings call transcript. "We see opportunities well beyond the 30 million people who use our ETFs today and continue to believe in the long-term growth potential for ETFs."
ETFs inflows also accounted for the majority of all of BlackRock's net inflows for the third quarter, which totaled $98 billion. Long-term net retail inflows totaled $23 billion, while active institutional inflows totaled $25 billion. Overall net inflows were partially offset by institutional index strategies reporting $8 billion in net outflows for the quarter ended Sept. 30.