BlackRock Beats Estimates with Declining Pace of New Flows
BlackRock (BLK), the world’s largest asset manager, saw $14 billion in long-term flows in the second quarter, helped by $5 billion inflows from retail and $18 billion in ETFs, partially offset by outflows of $9 billion from the Institutional segment. The pace of new flows has declined substantially from $55 billion in the previous quarter and $94 billion in the second quarter of last year.