Skip to Content
Stock Strategist

BlackRock's Solid Growth Continues

Positive flows and market gains lift assets under management to a new record.

Mentioned: , ,

There was little in wide-moat BlackRock’s (BLK) third-quarter results to alter our long-term view of the company, but we have increased our fair value estimate slightly to account for better assets under management levels and fees than we had forecast.

BlackRock closed the September quarter with a record $6.964 trillion in managed assets, up 1.8% sequentially and 8.1% year over year, with positive flows and market gains contributing to growth in assets under management during the period. Net long-term inflows of $52.3 billion during the third quarter were fueled by $741 million of active inflows (with strong flows from equity and alternatives operations offset by fixed-income outflows), $10.0 billion of inflows from the institutional index business (with the preponderance going into fixed-income strategies), and $41.5 billion in inflows from iShares. BlackRock’s annual organic growth rate of 4.7% over the past four calendar quarters is slightly behind management’s ongoing annual organic growth target of 5% but still within our long-term forecast of 3%-5% organic AUM growth annually.

Greggory Warren does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.