BlackRock assets hit record US$10.6-trillion high in second quarter on ETF flows, bull market

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BlackRock CEO Larry Fink said the money manager ‘is executing on the broadest opportunity set we’ve seen in years, including in private markets’

, 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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