BlackRock’s assets under management reached a record $12.53 trillion in the second quarter, driven by strengthening global markets amid hopes for trade deals and expected interest rate cuts by the U.S. Federal Reserve. The company\u2019s shares rose 1.1% in pre-market trading.<\/p>\n\n\n\n
After volatility earlier this year, when trade tensions and geopolitical risks undermined investor confidence, U.S. markets rebounded, with the S&P 500 index rising 10.57% during the quarter, exiting bear market territory.<\/p>\n\n\n\n
Net inflows into BlackRock fell 9.8% in the quarter, totaling $46 billion, while fixed income funds saw outflows of $4.66 billion. This was linked to turbulence in the U.S. Treasury market and growing public debt.<\/p>\n\n\n\n
A weaker dollar had a positive impact on revenue, delivering a foreign exchange gain of $171.5 billion, compared to a decline a year earlier.<\/p>\n\n\n\n
Performance fees dropped 42.7% to $94 million, partly due to increased competition in the ETF market. In response, BlackRock is shifting its focus to private markets, which offer higher margins. Private market inflows amounted to $6.82 billion during the quarter.<\/p>\n\n\n\n
The company plans to increase its share of income from private assets and technology to 30% by 2030, up from 15% in 2024. Revenue from technology services rose 26.3%, driven by the acquisition of data provider Preqin.<\/p>\n\n\n\n
BlackRock\u2019s total revenue rose to $5.42 billion, while expenses climbed to $3.69 billion. Adjusted quarterly profit reached $1.88 billion ($12.05 per share), up from $1.55 billion ($10.36 per share) a year earlier.<\/p>\n","protected":false},"featured_media":4708,"template":"","class_list":["post-4710","news","type-news","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\n