Black Rock attracted nearly US$200 billion in net capital inflows in the second quarter, with total assets exceeding 15 trillion for the first time
It attracted a net inflow of US$192 billion from customers in the second quarter, and investors poured funds into exchange-traded funds, pushing the company's total assets to exceed US$15 trillion for the first time. BlackRock said in a statement on Wednesday that investors poured a net $53 billion into actively managed funds, and revenue increased 31% year-on-year to $7.1 billion. Chief Executive Officer Larry Fink said in a statement: "Market fundamentals are strong and well-supported, with new technologies driving margin expansion and enhanced earnings momentum." He added that BlackRock's confidence in its own growth has prompted it to increase the size of its planned share repurchases to $2 billion in 2026. At 6:28 New York time, BlackRock rose 5.3% before the market opened. BlackRock said client net inflows reached a record $321 billion in the first half of this year. Long-term investment funds saw net inflows of $199 billion, exceeding the $170 billion average estimate of analysts polled by Bloomberg. BlackRock's ETF business attracted $178 billion in inflows, accounting for the majority of new inflows into the company, while cash and money market funds had net outflows of $7 billion. BlackRock's second-quarter adjusted earnings per share rose 15% year-over-year to $13.91, above analysts' average estimate of $12.66.