BlackRock has reported a 9 per cent rise in net income in the first quarter of 2015 compared to the same period last year, helped by large inflows into its exchange-traded funds.
Net income was £551m in the first quarter of 2015, up from £507m in the same period last year.
The company saw $70.4bn (£47.18bn) of long-term net inflows in the first three months of the year, as investors added $35.48bn into BlackRock’s ETFs .
Flows were positive across all long-term asset classes, client types, regions and investment styles, with active net inflows of $32bn and index net inflows of $38bn.
Net inflows of $47.5bn, $17.7bn and $5.2bn came from BlackRock’s clients in the Americas, EMEA and Asia-Pacific respectively, the company said.
BlackRock chairman and chief executive Laurence D. Fink says: “In iShares, we saw net inflows of $35bn, driven by broad-based European flows and strength in our global fixed income franchise.
“We are confident that our platform, our distribution, our client relationships and our long-term focus position BlackRock to continue to execute on behalf of clients in an ever-changing investment landscape.”
Assets under management at the firm increased by 8 per cent to $4.8trn at the end of the quarter from $4.4trn a year earlier.
However, advisory AUM decreased 17 per cent to $18.1bn from December 2014.