BlackRock Logs AuM Rise

Robbie Lawther

17 October 2018

Global asset manager reported an 8 per cent year-on-year rise in its assets under management for the third financial quarter of 2018, ending September 30.

The rise in AuM includes $28 billion of net AuM added from strategic transactions.

It reported a 2 per cent growth in revenue year-on-year driven by 4 per cent base fee growth, and 18 per cent technology services revenue growth, partially offset by lower performance fees.

The firm logged $11 billion of quarterly long-term net inflows, led by iShares®, active multi-asset and illiquid alternatives. There was a 1 per cent increase in operating income year-on-year, and it recorded earnings per share of $7.54, or $7.52 (adjusted).

“BlackRock’s third quarter results highlight the resilience of our differentiated platform and our ability to generate organic growth, even in the face of significant industry headwinds,” said Laurence Fink, chairman and chief executive. “Our holistic, client-centric approach brings together our global product breadth, portfolio construction capabilities, digital tools and industry-leading technology, and positions us well to deliver long-term value to clients and shareholders. We continue to build and evolve our business in order to stay ahead of clients’ needs and industry disruption, and completed several strategic transactions during the quarter to accelerate future growth. We are more confident than ever before in our ability to be a strategic partner to clients as a result of our broad array of integrated investment and technology offerings.”