(Boursier.com) — BlackRock , the US fund management giant, reported fourth-quarter earnings that beat analysts’ estimates as fee income rose, with assets under management hitting a new high of $10 trillion. dollars. A strong end to the year in global financial markets helped boost the performance of asset managers in general, with BlackRock also benefiting from its large scale and broad reach. Assets under management therefore amounted to more than 10,000 billion at the end of the quarter, against around 8,680 billion a year earlier. Net inflows for the quarter were $212 billion. “Our business is more diverse than ever. Active strategies, including alternatives, contributed more than 60% of organic base fee growth in 2021,” said CEO Larry Fink.
BlackRock’s revenue from investment advice, securities lending and administrative fees, its largest segment, reached $3.9 billion in the fourth quarter, with global trading volumes hitting an all-time high in 2021 , surpassing $5 trillion for the first time. Adjusted earnings rose 2.5% to $1.61 billion, or $10.42 per share, in the quarter ended December 2021, from $1.57 billion a year earlier. Analysts had expected earnings of $10.16 per share. Revenue improved 14% to $5.1 billion.
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