MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, July 21, 2010 iShares Flows 'Picked Up Nicely' in Q2, Says Fink BlackRock's net income almost doubled. This morning the New York-based asset management titan revealed that, at least partly thanks its December 1 acquisition of Barclays Global Investors, BlackRock's net income rose 98 percent year-over-year, from $218 million in the second quarter of 2009 to $432 million in Q2 2010, which ended June 30. Larry Fink and his team reported adjusted earnings per diluted common share of $2.37 for Q2 2010, beating analysts' average projection of $2.29, Reuters reported. BlackRock's assets under management dipped six percent during Q2 to $3.151 trillion, thanks to recent market woes, $33.9 billion in "merger-related" institutional outflows and $24.9 billion in net outflows on the money market side. Yet net inflows of $12.9 billion for iShares helped drive $28.4 billion in net inflows "in long-term products and advisory assignments." "Retail flows have been particularly strong in the United States, and iShares flows picked up nicely in the second quarter," Fink said in the press release. Printed from: MFWire.com/story.asp?s=32875 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |