BlackRock AUM boosted by fixed income flows
BlackRock, the world’s largest asset manager, has shared its Q2 results with almost US$82 billion in quarterly net inflows.
The firm said it generated US$81.6 billion ($120 billion) in the three months to 30 June, resulting in 3 per cent organic base fee growth. This was driven by flows into private markets, retail active fixed income and ETFs.
Fixed income, in particular, saw net flows of US$35 billion during the quarter.
Combined with the first quarter inflows, this represents total inflows of almost US$140 billion for the first half of 2024.
However, it was noted that active funds saw US$3.6 billion in outflows compared to positive flows of $54.9 billion into its index and ETF vehicles. These now vastly outnumber active products at US$7.1 trillion in assets under management compared to US$2.7 trillion in active funds.
The firm said it was on track to close its acquisition of Global Infrastructure Partners, which was announced in January 2024, in the third quarter of the year. This deal will add US$100 billion to the firm’s infrastructure assets under management.
Overall assets under management now stand at US$10.6 trillion, which it said was driven by consistent organic growth and positive market movement. This was divided between US$5.8 trillion in equity, $2.8 trillion in fixed income, $921 billion in multi-asset and $303 billion in alternatives.
Larry Fink, chairman and CEO of BlackRock, said: “BlackRock is executing on the broadest opportunity set we’ve seen in years, including in private markets, Aladdin, and whole portfolio solutions across both ETFs and active. At the same time, we are opening up meaningful new growth markets for our clients and shareholders with our planned acquisitions of Global Infrastructure Partners and Preqin.
“BlackRock has longstanding relationships with corporates and governments around the world as a long-term investor in public equity and debt. These relationships differentiate BlackRock as a capital partner in private markets, driving unique deal flow for clients. We have strong sourcing capabilities, and we are transforming our private markets platform to bring even more benefits of scale and technology to our clients.”
AUTHOR
Laura Dew
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