BlackRock recorded a $12.5 trillion asset management in the first half of the year, achieving historic fundraising milestones, particularly in its iShares ETF offerings, which saw $192 billion in net inflows. The firm is shifting focus towards higher-fee private markets to increase revenue and plans to reach $35 billion in annual revenue by 2030. However, it faced challenges in performance fees, which dropped 58% amidst volatile market conditions affecting equities and bonds.
BlackRock managed $12.5 trillion in assets across institutions, primarily in public markets, while shifting focus to lucrative private markets with higher fees.
The firm reported record inflows of $152 billion into its products in the first half, driven by a notable $192 billion from iShares ETF line.
Despite growth, BlackRock experienced a 58% drop in performance fees compared to the previous year due to challenging equity and bond market conditions.
BlackRock aims for $35 billion in annual revenue by 2030, highlighting its transition towards private markets for higher fee potential.
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