US-based fund manager BlackRock has reported a strong finish to the year after posting an increase in profits for the three months that ended on 31 December 2021.

The firm’s assets under management (AuM) hit an all-time high of over $10trn at the end of the year, marking a 15% jump on a year-on-year basis.

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The rise in AuM was driven by the increase in revenues and record inflows into exchange traded funds.

Q4 2021 highlights   

BlackRock’s total net inflows through the quarter were $211.7bn, against $126.9bn in the same period a year ago.

The asset manager’s net income was $1.6bn, up 6% compared to $1.5bn registered in Q4 2020.

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Quarterly revenue also increased by 14% to $5.1bn from $4.4bn in the same quarter of 2020.

Fourth quarter Earnings Per Share (EPS) stood at $10.42, up 2% from $10.18 recorded in Q4 2020.

BlackRock chairman and CEO Larry Fink said: “Our record results across each of our strategic priorities demonstrate the benefits of continually investing in our platform over years ahead of our clients’ needs, and the tireless commitment of our employees.”

Fink added: “As the world continues to navigate uncertainty and profound shifts in economies and societies at large, BlackRock remains focused on helping our clients meet their investment goals.

“BlackRock enters 2022 better positioned than ever – we remain confident in our ability to continue generating differentiated organic growth over the long-term and helping more and more people experience financial wellbeing.”

BlackRock reported a net income of $1.68bn for Q3 2021, representing an increase of more than 23% compared to $1.36bn a year ago.

In October last year, BlackRock teamed up with Credit Suisse to launch a private equity impact fund that focuses on health and wellbeing.