BlackRock’s AUM grows 4% in Q2

Investors gave BlackRock more cash to manage in Q2 as the stock market continued to break records, reports the New York Times.

Read: Leveraged ETFs small but risky

Between April and the end of June, BlackRock’s assets under management grew 4% compared to the first quarter, to $4.59 trillion. Compared to the same period in 2013, assets grew 19%.

The Times reports that institutional investors have been withdrawing billions of stock and individual investors are attracted to the company’s non-traditional investments.

BlackRock’s profit in Q2 rose to $808 million, which is 11% more than the same time last year.

Read more here.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.