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Alternative Market Briefing

BlackRock Q1 earnings positive, despite investor caution

Thursday, April 19, 2012

Bailey McCann, Opalesque New York: BlackRock, the world’s largest asset manager, released its quarterly earnings report today. Net income increased to $572m, or $3.14 per share, from $568m, or $2.89 per share, in the same quarter a year before. Overall revenue declined $33m or 1%, to $2.2bn. Revenues from ETFs were the largest contributor to the company gains this quarter.

The iShares® ETF generated its strongest first quarter result on record with $18.2bn of net new business. Assets under management (AUM) closed the quarter at $3.684tn, up 5% since year-end 2011 and up 1% year- over-year. The firm did disclose however, that it had a $36bn fixed income redemption from a large institutional investor. The firm’s fixed income group has been able to capture nearly half of all fixed income ETP flows for the quarter.

"Our first quarter 2012 results are a strong testament to the power of BlackRock’s diversified business model and history of innovation," said Laurence D. Fink, Chairman and CEO of BlackRock said in a statement. Fink characterized the market overall as fragile as investors remain cautious due to broad market uncertainty.

At the end of February, BlackRock launched an advertising campaign designed to increase interest in a variety of areas including ETPs, multi-asset solutions and alternatives. The campaign, 'Investing in a New World’ is designed to educate investors on how to invest in uncertain market conditions. Along with this new advertising initiative......................

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