NEW YORK (Reuters) – BlackRock Inc (BLK.N), the world’s largest asset supervisor, took in much less money final quarter as buyers moved into lower-cost bond funds, and it made much less cash lending out shares.
The BlackRock brand is seen on the BlackRock Japan headquarters in Tokyo, Japan, October 20, 2016. REUTERS/Toru Hanai
The corporate, supervisor of $6.eight trillion in belongings, missed analysts’ estimates for quarterly gross sales and earnings on Friday, regardless of attracting $151 billion in new cash, as a lot of that money moved into lower-fee mounted revenue funds and accounts used to retailer money.
The corporate’s income for the three months by way of June 30…