BlackRock Inc reported a larger quarterly loss than anticipated on Friday due to the turmoil in global markets.
Blackrock Q2 Results- Pofit Margin
Blackrock Q2 Results- Biggest Assest Manager
The fee income of the world's biggest asset manager was reduced and retail investors redeemed their savings.
The adjusted profit dropped to $1.12billion, or $7.36 per shares, in the three months ending June 30.
Blackrock Q2 Results- Drop in Profits
BlackRock reported that retail investors drew $10 billion during the quarter. The firm still received $89.6 billion.
Blackrock Q2 Results- Retail Investors
BlackRock's assets under Management (AUM), fell 11% to $8.49 Trillion last year. This is well below the $10 Trillion.
Blackrock Q2 Results- Under Management
Larry Fink, Chief Executive Officer of the firm, stated in a statement that "investors are simultaneously dealing with high inflation.
Blackrock Q2 Results- CEO Statement
Fund managers are under increasing pressure due to concerns about rising inflation, geopolitical turmoil.
Blackrock Q2 Results- Fund Manager
Investors have had to restructure their portfolios in order to make room for safe-haven or fixed-income products.
Blackrock Q2 Results- Portfolios
Image Source-Financial Times
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