BlackRock flexed its muscles this week, reminding investors why it is the world’s largest asset manager with a new record $11.5 trillion under management.
It’s exchange-traded and mutual funds saw a record $221 billion of inflows in the third quarter across multiple products, active, index and regions.
“In my conversations with clients and policymakers around the world, I hear how more and more countries recognize the power of American capital markets and would like to build their own type of capital markets” said BlackRock CEO Larry Fink on the company’s earnings conference call.
“Record government deficits and tighter bank lending means people, companies, and countries will increasingly turn to markets to finance their retirements, their business, and their economies”, he continued.
The firm’s ETFs pulled in $97 billion during the quarter, bringing the annual total to $248 billion. $48 billion went to fixed income, $32 billion to core equity and precision ETFs $20 billion, according to the company.
“We’re seeing …