https://nighthawkrottweilers.com/

https://www.chance-encounter.org/

Business

BlackRock deserves beats estimates that assets rebound over $ 6 trillion By Reuters




© Reuters. FILE PHOTO: The corporate logo and trading information for BlackRock is displayed on a screen on the NYSE floor

By Saqib Iqbal Ahmed and Trevor Hunnicutt

NEW YORK (Reuters) – BlackRock Inc (NYSE :), the world's largest real estate manager, reported Q1 results That exceeded expectations and raked into $ 65 billion of new investor cash as global financial markets came from a volatile fourth quarter.

Total assets increased 3% to $ 6.52 trillion in the quarter to March 31[ads1] from the previous year, among a broad rise in global stock markets. The properties had dipped below $ 6 trillion during the market turmoil late last year.

Total quarterly net inflows across all product types jumped 13.6 percent to $ 64.6 billion from the previous year.

In total, the company sold $ 59 billion in inventory, bond and other "long-term" investment funds increased from $ 43.6 billion in the quarter of December 31.

BlackRock shares increased by 2.2% to $ 461.56 in early trading.

The US economy is accelerating after a slowdown and the market is ready for "big" stock inflows, BlackRock Inc.'s CEO Larry Fink told Reuters in an interview on Tuesday.

"I think people are still at risk, despite the big rebounds," Fink said.

The benchmark index, which dropped 14 percent in the last three months of 2018, averaged 13 percent in the first quarter, its best performance since the third quarter of 2009.

BlackRock lost more than $ 26 billion in its equity portfolio during that period. first quarter, but this was more than offset by a jump in interest rates of nearly $ 80 billion. Long-term investment increased by $ 59 billion.

"The investment flows look stronger than we expected," said Kyle Sanders, an analyst with St. Louis-based financial services firm Edward Jones.

"BlackRock has a very strong interest-rate reputation, and it looks as if the asset class came back in favor of lowering interest rates. I think it ran better than expected real estate flows," Sanders says.

Institutional Net Investment Funds Almost Grow $ 29.12 billion from a year ago.

Net profit attributed to BlackRock fell to $ 1.05 billion, or $ 6.61 per share in the first quarter, from $ 1.09 billion, or $ 6, 68 per share, a year earlier, well outperforming analysts' expectations for a $ 6.13 profit per share, according to IBIN data from Refinitiv.

BlackRock said iShares-branded ETFs took in $ 30.69 billion of new Money compared to $ 81.40 billion in the fourth quarter. [19659004] Revenue from technology services, a key focus area for BlackRock, grew 11 percent to $ 204 million.

Still, the company continued to feel the squeeze from tax revenue ykk among an ongoing industry shift from high fee actively managed mutual funds to passive investment products with low fee.

The base fees fell 5% from the same period the year before, mainly due to the negative markets in the fourth quarter and a stronger US dollar that excluded the fees they collect, BlackRock said.

"I thought it was pretty well known that the fees would be down, not just for BlackRock, but for a property manager simply because they are based on an average of market values ​​in the quarter, and we started the quarter at a low point," says Edward. Jones & # 39; Sanders.



Source link

Back to top button

mahjong slot

https://covecasualrestaurant.com/

sbobet

https://mascotasipasa.com/

https://americanturfgrass.com/

https://www.revivalpedia.com/

https://clubarribamidland.com/

https://fishkinggrill.com/