The world's largest asset manager Blackrock once again posted strong growth in the second quarter.
The profit climbed thanks to higher income through fund fees compared to the same period last year by 28 percent to 1.55 billion dollars, as Blackrock announced on Wednesday.
The group benefited from investors looking for suitable investment opportunities in the form of funds and listed index funds (ETF).
Blackrock's assets under management rose nearly a third from the year-ago quarter to a record $ 9.49 trillion.
Markus Frühauf
Editor in business.
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Between April and the end of June, Blackrock raised $ 81 billion net in new customer money. $ 35 billion was invested in sustainable investments in the second quarter. Revenues increased 32 percent to 4.8 billion euros, which the group attributed to significant market share gains, strong organic growth, higher fee income and a 14 percent increase in revenue from technology services.
The latter primarily relates to the Aladdin database system developed by Blackrock, which companies and central banks use.
Aladdin is used to monitor one-tenth of all assets in the international financial markets. CEO Larry Fink sees Blackrock still on the road to success. With the investment platform, the expertise in portfolio construction together with Aladdin technology, customer portfolios could be served in a way that like no other asset manager can.
How big Blackrock is, a comparison with the financial assets of the Germans shows: The assets under management of 9.5 trillion dollars correspond to the equivalent of 8.1 billion euros.
The financial assets of the Germans are almost 7 billion euros.