iShares nets £15bn in inflows


BlackRock’s iShares business has seen $23.3bn (£15.2bn) of inflows in the third quarter of the year, with fixed income products driving the flows.

The third quarter results for BlackRock show net inflows of $18.2bn for the fixed income iShares products and $5.3bn for equity offerings. iShares’ multi-asset offerings saw more modest net inflows of $74m while the alternative products saw outflows of £320m for the period.

The flood of money means iShares now accounts for $1.05trn of assets and 24 per cent of BlackRock’s total assets under management.

However, market movements and the effects of FX meant the fixed income iShares products saw a collective $2.3bn drop in assets.

Equity funds fared worse, with $84.9bn of losses thanks to market movements and the effect of FX changes.

BlackRock chairman and chief executive Laurence Fink says: “Investors continued to look to iShares as an effective way to express market views and enhance portfolio construction. iShares, with $23bn of net inflows, once again captured the number one market share of net new business globally, as well as in both the US and Europe.

“Fixed income iShares had $18bn of net inflows as fixed income ETFs were increasingly used by clients as efficient tools for diversification and liquidity.”

Elsewhere in the business, BlackRock saw $6.5bn in inflows for Q3, taking total retail assets under management to $535bn.

Within the retail business, fixed income flows again dominated, attracting $4.6bn of inflows, of which $2.4bn was in unconstrained strategies.