EARNINGS-BlackRock profit jumps 21% on fixed-income boost


Adds details on fixed-income, cash management inflows, background

July 17 (Reuters) - BlackRock Inc BLK.N, the world's largest asset manager, reported a 21% jump in quarterly profit on Friday as investors poured money into its fixed-income funds and cash management services.

The asset manager's fixed-income funds took in $60.27 billion in new money. Its cash-management business attracted over $24.2 billion in net inflows in the second quarter.

Financial markets bounced back in the June quarter from a COVID-sparked brutal selloff in March, boosting BlackRock's assets under management.

BlackRock ended the quarter with $7.32 trillion in assets under management, up from $6.84 trillion a year earlier.

The New York-based company's net income rose to $1.21 billion, or $7.85 per share, in the three months ended June 30, from $1.00 billion, or $6.41 per share, a year earlier. (

(Reporting by Bharath Manjesh in Bengaluru; Editing by Sriraj Kalluvila)

((; outside U.S. +91 80 6749 2703;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.