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The largest asset manager in the BlackRock world reported a slowdown in entries after two record quarters, while the sale on the financial markets weighed on the confidence of investors.
The group whose headquarters is in New York said it has attracted $ 84 billion in the three months in March, compared to $ 281 billion in the last quarter of 2024 and lower than Wall Street estimates. The new money has increased its assets under management to 11.6 TN.
Annual profits dropped by 4% compared to the previous year to $ 1.5 billion, or $ 9.64 per share, the two analysts’ expectations.
The company said the decline was linked to the expenses of its acquisition frenzy last year, when Blackrock concluded $ 30 billion in transactions while Managing Director Larry Fink pushed the group more deeply on the private markets.
Revenues increased by 12% compared to a year ago to $ 5.3 billion, reinforced by its takeover of the investment company in global infrastructure infrastructure partners and the growth of its fundraights negotiated on the stock market.
“Uncertainty and anxiety about the future of the markets and the economy dominate customer conversations,” said Fink. “We have already seen periods like this before when there have been major structural changes in terms of policy and markets – such as the financial crisis, inflation cocovies and the row in 2022.”
He added: “Some of the biggest Blackrock jumps followed.”
