NEW YORK, Oct. 14 (Xinhua) -- Leading U.S. investment company BlackRock Inc. on Tuesday reported strong third-quarter results, with total assets under management climbing 17 percent from a year earlier to 13.46 trillion U.S. dollars.
BlackRock's revenue surged 25 percent year over year, driven by favorable market conditions, higher technology-service income, and fees from various transactions.
The firm drew 205 billion dollars in net new client inflows, buoyed by record demand for its iShares exchange-traded funds and steady growth in private markets and cash management.
"BlackRock delivered one of our strongest quarterly flows results," said CEO Larry Fink. "We believe our results are a powerful validation of our hyper-local client engagement model and forward-looking investments." ■
