BlackRock just reported a record $10.5 trillion in assets under management as client cash poured in and markets delivered

Fri, 04/12/2024 - 07:04

BlackRock reported first-quarter earnings on Friday.
Assets under management grew by 15% in 12 months to a record $10.5 trillion.
The world's largest asset manager cited big net inflows of client cash and a strong market.

BlackRock's assets under management surged 15% year-on-year to a record $10.5 trillion in the first quarter, as more people trusted the company to put their cash to work and markets performed well.

The Wall Street titan grew its AUM by $1.4 trillion in 12 months, its first-quarter earnings revealed on Friday. The increase reflected a big net inflow of client funds and a positive market backdrop.