BlackRock Inc showed assets under management back below $10 trillion, hurt by the market rout in the first quarter, and cautioned that fees could come under pressure over the rest of the year because of volatile markets.
A sign for BlackRock Inc hangs above their building in New York U.S., July 16, 2018. REUTERS/Lucas Jackson//File Photoshowed assets under management back below $10 trillion, hurt by the market rout in the first quarter, and cautioned that fees could come under pressure over the rest of the year because of volatile markets.
The New York-based firm ended the quarter with $9.57 trillion in assets under management. While that was up from $9.01 trillion a year earlier it was down from its record $10 trillion in the fourth quarter 2021. "Across the board, you're seeing portfolios are being navigated around fixed income," Fink said, adding that clients "are reevaluating where they should be across the yield curve."
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