Sunday, 28 December 2014
Last updated 3 days ago
Jul 20 2011 | 8:55am ET
New York-based BlackRock netted $619 million in Q2 2011, up $187 million compared to a year ago and $51 million from Q1 2011.
The money manager reported operating income of $866 million and non-operating expense, net of non-controlling interests, of $27 million.
“Our second quarter results—16% year-over-year growth in revenue, 19% in operating income, 27% in diluted EPS, and operating margin of 39.7%—all attest to the strength of BlackRock’s business model and our unique franchise,” commented Laurence D. Fink, chairman and CEO of BlackRock. “Growth was driven largely by investment performance and asset mix, and is evidence that we are leveraging the full breadth of our alpha, beta and risk management capabilities to serve our clients.”
Assets under management rose 0.3% from Q1 2011 to $3.66 trillion, thanks in part to $12.1 billion in market gains, mostly from fixed-income investments, and $14.2 billion in foreign-exchange gains. Redemptions included $14.1 billion from advisory portfolios as assignments ended, according to the statement.
BlackRock earned performance fees of $50 million in the second quarter, down $33 million from Q1, a decline the firm attributed to lower performance fees from hedge funds and multi-asset class products.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.