, the world’s largest money manager, hit a record high of $10.65-trillion in the second quarter on Monday, thanks to rising client asset values and as investors pumped money into the company’s ETFs.Stock markets have scaled record highs in the last few months amid rising hopes of a soft landing for the U.S. economy and investor frenzy around artificial intelligence-linked stocks.
BlackRock registered total net inflows of $81.57-billion in the quarter, slightly higher than $80.16-billion a year earlier. Exchange-traded funds captured the majority of flows, at $83-billion, marking its best start to a year on record, BlackRock said. Investment advisory and administration fees, typically a percentage of AUM, rose 8.6 per cent, to $3.72-billion.
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