Financial Results

BlackRock's AuM Scales New Heights, Quarterly Inflows Rise

Editorial Staff 14 October 2024

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.”

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