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BlackRock close to surpassing $6 trillion AuM

growthBlackRock saw $96 billion (€81 billion) of net inflows in the third quarter, driven overwhelmingly by its ETF business, iShares.

The inflows brings total assets under management at the world’s largest asset manager to a record $5976.9 billion and close to surpassing $6 trillion for the first time.

iShares had $52 billion of net flows, while BlackRock’s active business saw inflows of $6 billion, mainly into fixed income and multi-assets. Further flows were into cash management.

Revenues increased 14% year-on-year, driven by growth in base fees, performance fees and by technology and risk management revenue from the company’s Aladdin investment management system.

In Europe, Middle East and Africa region, which represents 28% of the firm’s long-term assets under management, BlackRock saw $23.6 billion of long-term net inflows.

It’s retail net flows were split evenly between the Americas and internationally, with $3.7 billion apiece.

Equity inflows of $33 billion for iShares products across US and international stock markets outpaced fixed income flows of £17.5 billion.

However, institutional investors using BlackRock’s index strategies caused equity outflows of $19.6 billion in favour of fixed income, which generated $36.9 billion of inflows driven by liability-driven investments.

“BlackRock’s third quarter results reflect the continued growth of our global investment and technology platform and the trusted relationships we have built with our clients,” said Laurence D. Fink, chairman and CEO of BlackRock.

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