BlackRock second-quarter inflows slow amid market turmoil - BNN Bloomberg

BlackRock Inc. clients slowed the amount of money they poured into the firm’s core investment funds as markets cratered and inflation surged.

Investors are reeling with US inflation running at a four-decade high and the Federal Reserve ratcheting up interest rates as recession fears mount. The S&P 500 tumbled 16 per cent in the quarter, extending its decline for the year to more than 20 per cent and ushering in a bear market. BlackRock’s assets under management, which crossed the US$10 trillion threshold for the first time toward the end of last year, have come tumbling back down. They totaled US$8.5 trillion at June 30, the lowest in almost two years.

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