The world's largest asset manager reports total quarterly net inflows across all product types jumped nearly 14% to $65bn
New York — BlackRock, the world's largest asset manager, reported first-quarter profit that exceeded expectations and raked in $65bn of new investor cash as global financial markets rebounded from a volatile fourth quarter.
BlackRock lost more than $26bn in its equity portfolio during the first quarter, but this was more than offset by a jump in fixed income of nearly $80bn. Long-term investments rose by $59bn."Investment flows look stronger than we anticipated," said Kyle Sanders, an analyst with St Louis-based financial services firm Edward Jones.
Net income attributable to BlackRock fell to $1.05bn, or $6.61 per share, in the first quarter, from $1.09bn, or $6.68 per share, a year earlier. That well exceeded analysts' expectations for a profit of $6.13 per share, according to IBES data from Refinitiv.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
LVMH keeps rivals on their toes with strong first quarterThe conglomerate, which owns Christian Dior in fashion and Krug in Champagne, was boosted by a strong performance in its leather goods unit
Read more »
Newsdeck: Trump Raises $30 Million in First Quarter, Campaign SaysPresident Donald Trump raised more than $30 million for his re-election effort, according to figures released by his campaign, and has $40.8 million in the bank, more than any of the active Democratic candidates have reported so far.
Read more »
Measles cases rose nearly four-fold in first quarter 2019 - WHO
Read more »
Measles cases up four-fold in first quarter compared to 2018A vocal minority of scientifically uninformed ‘anti-vaxxers’ around the world are allowing the often fatal contagious disease to flare up again
Read more »
MARKET WRAP: Retailers 3% jump leads JSE above 58,000 pointsLocal bourse closes at its best level since September as the rand pushes past the psychologically-important R14/$ level
Read more »
Cyclone Idai's death toll now above 1 000 in southern AfricaThe death toll from the cyclone that ripped into southern Africa last month is now above 1 000.
Read more »
Telkom shares soar on more demanding investor expectationsThe rally could be explained by a mooted property deal or EOH’s woes, an analyst says
Read more »
MTN shares rally after Jumia soars in New YorkThe mobile operator’s shares are at their best level since the company ran into regulatory troubles in Nigeria in August 2018
Read more »
MTN shares rally after Jumia soars in New YorkThe mobile operator’s shares are at their best level since the company ran into regulatory troubles in Nigeria in August 2018
Read more »