BlackRock, the world’s largest asset manager, recorded $4.6 trillion assets under management (AuM) in the second quarter of 2014, 19% higher than at the same time last year.
Moreover, the New York-based firm posted $808 million in profit, an 11% increase from the $729 million net profits recorded in the second quarter of 2013. Revenue ballooned 12% to hit $2.78 billion, compared to $2.48 billion at the same point last year, exceeding analysts’ expectations.
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Laurence Fink, chairman and CEO of BlackRock, said: "In the second quarter, we saw strong revenue growth driven by a combination of robust organic revenue gains and market tailwinds. Our results, with revenue up 12%, once again demonstrate the benefits of our diverse platform."
