US asset management giant BlackRock saw a record annualised organic asset growth rate of 9% in Q2, driven by record-breaking fixed income and cash activity, but other factors contributed to a 3% earnings per share (EPS) decrease, the company said on Friday.
BlackRock saw net inflows of $151bn (£120.5bn) during Q2 2019, meaning assets under management (AUM) increased by 9% to $6.8trn from $6.3trn in Q2 2018. Flows in the corresponding period last year were $20bn. But revenue slipped 2% year-on-year thanks to lower base fees, which the firm said were driven in part by lower securities lending revenue and lower performance fees. BlackRock reveals aim to become one of China's top asset managers Operating income fell by 11% year-on-year to $1.28bn, reflecting $61m of fund launch costs. This, allied with a higher effective tax rate, meant E...
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