From the Financial Times:
BlackRock’s revenues climbed to record highs during a volatile third quarter while assets under management retreated slightly but remained near an industry peak of $9.5tn. “Our long term flows were great given the quarter we had for markets,” said chief executive Larry Fink, citing a 10th consecutive quarter of active equity inflows and demand for sustainable active and index strategies.
“Our AUM decline was a function of a stronger US dollar,” he said. Overall assets under management at BlackRock tallied $9.46tn at the end of September, up 21 per cent on the year, but down slightly from $9.49tn at the end of June. It dominates the league table for asset managers, with Vanguard next in line at $8.3tn of assets at the end of August.