BlackRock attracts record net inflows into iShares range

BlackRock saw record net inflows into its iShares range in the first quarter of 2017, attracting $64.5bn in new money.

Chief executive Larry Fink attributed the flows to both retail and institutional investors using the iShares ETFs as “the building blocks for their portfolios and in combinations to drive active returns”, adding that iShares have captured the majority share of industry flows globally.

In total the asset management giant reported $80bn of net inflows into its long-term business in the first quarter of 2017, a 7 per cent increase in annualised organic asset growth.

Net inflows into the EMEA region stood at $18.1bn.

Within the firm’s long-term retail business there were $4.6bn of net inflows in Q1, with $5bn of net inflows globally and $400m net outflows from the US, marking a return “to positive organic growth”.

The asset management giant reported $4.8bn of net inflows into its fixed income business, $1.8bn into equities, driven by the demand for index funds, and net outflows of $1.7bn from its multi-asset proposition.

Fink adds: “BlackRock’s first quarter results reflect the strategic decisions we have made to complement our investment capabilities with industry-leading technology.

“Building on record total net inflows of $202 billion in 2016, we began 2017 by repositioning our active equity platform and investing in our business for future growth. Going forward, we will continue to transform change into opportunity, using our advantaged market position to create better financial futures for clients and drive long-term growth for shareholders.”