BlackRock Strong Q4 Driven By Exceptionally Strong iShares Inflows

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BlackRock Strong Q4 Driven By Exceptionally Strong iShares Inflows
By BlackRock [Public domain], via Wikimedia Commons

BlackRock, Inc. (NYSE:BLK) is up 2.3 percent in pre-market trading after reporting strong Q4 earnings. Below is an initial report from Eric N. Berg, Kenneth S. Lee, and Bulent Ozcan of RBC Capital.

BlackRock, Inc. (NYSE:BLK) reported a December quarter that on first glance to us looked very strong. To be sure, the net flows into the company’s coffers, which seemed exceptionally strong at $40 billion, were dominated by iShares, which had nearly $20 billion of net inflows. We say “to be sure” because the iShares products tend to be lower-fee products than BlackRock’s actively managed equity and fixed income capabilities. But the iShares are also highly scalable – and thus high margin. And as a general statement we would say that BlackRock enjoyed success in the quarter across the board. Items we’d highlight:

Total inflows of $40 billion. Positive net flows across all three major client types: retail (net flows of $17 billion), iShares (net flows of $19 billion), institutional (net flows of $4.8 billion).

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