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BlackRock reveals USD20bn of inflows in second quarter

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BlackRock’s results for the second quarter of 2018 reveal USD20 billion of total net inflows, positive across active, index and cash management.

The figures represent an 11 per cent revenue growth year-over-year driven by base fees, performance fees and technology services revenue and the firm writes that the 16 per cent operating income growth year-over-year reflects operating margin expansion.

There was 27 per cent diluted EPS growth (28 per cent as adjusted) driven in part by lower tax rate and USD300 million of quarterly share repurchases.

Laurence D. Fink, Chairman and CEO of BlackRock says: “BlackRock delivered strong financial results in the second quarter, as revenue increased 11 per cent, operating income increased 16 per cent and EPS increased 28 per cent year-over-year.

“Our diverse global platform generated USD20 billion of total net inflows in the quarter and USD276 billion over the last 12. Secular trends supportive of BlackRock’s future growth continue, especially in technology, including Aladdin and digital wealth, alternatives and iShares.

“Despite an industry-wide slowdown in flows associated with investor uncertainty in the current market environment, our dialogue with clients and opportunities to provide long-term solutions are more robust than ever before.

“We have seen markets like these before, and BlackRock’s product breadth, unparalleled portfolio construction capabilities, digital tools and technology uniquely position us to deliver long term value to clients and shareholders.”

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