"Investors are simultaneously navigating high inflation, rising rates and the worst start to the year for both stocks and bonds in half a century," said Fink, adding that global companies are also facing the impact of the dollar appreciation in their earnings.
#Haven city market how to#
But we're still seeing more interest from institutional clients about how to efficiently access these assets," Chief Executive Officer Larry Fink said.īlackRock's assets under management (AUM) fell 11% to $8.49 trillion compared with last year, well below the $10 trillion milestone from the fourth quarter of 2021, and also hit by a stronger dollar. "The crypto asset market has witnessed a steep downturn in valuations over recent months. Regarding the recent collapse of crypto assets, BlackRock said it will continue to explore digit assets. Still, the firm attracted $89.6 billion in total net inflow from clients. The company said that although gross sales of mutual funds remained strong, there were strong redemptions in long-duration fixed income, high yield and growth equities. Spooked by assets drawdown, retail investors withdrew roughly $10 billion in the quarter, BlackRock showed, the first drop since the pandemic began in March 2020. It missed an average analyst estimate of $7.90 per share, according to IBES data from Refinitiv. BlackRock said that general and administrative expenses rose 12% year-over-year partly due to costs associated with return to office such as higher tech costs and health and safety costs.īlackRock's adjusted profit fell to $1.12 billion, or $7.36 per share, for the three months ended June 30, from $1.61 billion, or $10.45 per share, a year earlier.
0 kommentar(er)
