Wealth management behemoth BlackRock has crossed the $10 trillion mark for assets under management. It ended 2021 at $10.01 trillion.
It was largely actively managed funds that pushed Blackrock’s assets under management to breach the $10 trillion mark. Active funds comprised almost 50% of the $211.7 billion net new money last quarter for the company. “We generated a record $267 billion of net inflows from active strategies in 2021, including a second consecutive year of record active equity inflows,” BlackRock CEO Larry Fink mentioned during the earnings call.
Fink said that active strategies contributed over 60% of the company’s annual organic base fee.
BlackRock’s overall profit came in at $1.64 billion, or $10.63 a share, for the fourth quarter, up from $1.55 billion, or $10.02, a year earlier. The S&P Global Market Intelligence analyst consensus expected $10.22 per share.
Revenue rose +14% to $5.11 billion, lagging analysts’ expectation of $5.15 billion.