Financial Results
BlackRock's AuM Scales New Heights, Quarterly Inflows Rise
Among details of the quarterly results, BlackRock's CEO reminded investors of the work it is doing in the field of infrastructure and private market investing.
BlackRock, the
world’s largest fund manager, last Friday reported that its
total AuM hit $11.4785 trillion at the end of September, rising
from $9.1 trillion a year ago and propelled by $221.18 billion of
net flows in the quarter, contrasting with $2.6 billion a year
ago.
The figures appear to suggest that recoveries in markets for much
of this year – up until the sharp selloff in early August – have
driven AuM higher. (Markets have recovered somewhat since early
August.)
Revenues, on GAAP accounting basis, stood at $5.197 billion in
Q3 2024, compared with $4.522 billion a year earlier.
On an adjusted basis, operating income rose to $2.128 billion
from $1.691 billion a year earlier. The operating margin, on an
adjusted basis, was 45.8 per cent, up from 42.3 per
cent.
In his comments on the figures, CEO Laurence Fink pointed to the
efforts the New York-listed firm is making to ramp up its
involvement in the private markets space, including
infrastructure.
“Through coordinated investments and initiatives, we are evolving
our private markets capabilities to best serve our clients. We’re
already seeing the power of BlackRock and GIP together as we
drive access to the enormous investment potential of
infrastructure, especially to support AI innovation,” Fink said.
“We believe the model portfolio solution we are building will
democratise retail access to private markets. And
our planned acquisition of Preqin will enhance data and risk
analytics needed to support growing private markets allocations.”