BlackRock sees 'record' inflows as ETF unit dominates

BlackRock's Fink who oversees $6 trillion says he's still 'quite bullish&apos on stocks due to global growth

BlackRock sees 'record' inflows as ETF unit dominates

The company's profit was boosted by a US$1.2 billion gain related to the recent enactment of the USA tax laws, and the company also raised its quarterly cash dividend by 15 per cent.

BlackRock Inc charged past a record $6 trillion in assets, its profit beating Wall Street forecasts, as investors flooded into the relatively low-priced funds of the world's largest asset manager.

'BlackRock's record 2017 results reflect the long-term investments we've consistently made in our business to better serve clients, ' said Laurence Fink, chair and chief executive of BlackRock., Inc. (AMZN) Stake Cut by South Texas Money Management Ltd.
The e-commerce giant reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.57). The performance of firm for the quarter recorded as 1.49% and for year stands at 13.34%, while the YTD performance was -1.22%.

The bulk of new funds came via iShares, which brought in $245 billion in 2017. Earnings on an adjusted basis were $1.02 billion, or $6.24 a share, up 20% from $852 million, or $5.14 a share for the same period. Excluding that benefit, earnings amounted to $6.24 a share, beating the consensus analyst estimate of $6.01.

BlackRock's board approved a 15% rise in the quarterly dividend to $2.88 a share.

For Q4, total net inflows at the asset manager were $103bn taking total assets under management at 31 December 2017 to $6.3trn, a 22 per cent increase on the $5.1trn assets under management at the end of 2016.

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