iShares nets £15bn in inflows

BlackRock’s iShares business has seen $23.3bn (£15.2bn) of inflows in the third quarter of the year, with fixed income products driving the flows.

The third quarter results for BlackRock show net inflows of $18.2bn for the fixed income iShares products and $5.3bn for equity offerings. iShares’ multi-asset offerings saw more modest net inflows of $74m while the alternative products saw outflows of £320m for the period.

The flood of money means iShares now accounts for $1.05trn of assets and 24 per cent of BlackRock’s total assets under management.

However, market movements and the effects of FX meant the fixed income iShares products saw a collective $2.3bn drop in assets. 

Equity funds fared worse, with $84.9bn of losses thanks to market movements and the effect of FX changes. 

“Investors continued to look to iShares as an effective way to express market views and enhance portfolio construction. iShares, with $23bn of net inflows, once again captured the number one market share of net new business globally, as well as in both the US and Europe,” says Laurence Fink, chairman and chief executive of BlackRock.

“Fixed income iShares had $18bn of net inflows as fixed income ETFs were increasingly used by clients as efficient tools for diversification and liquidity.”

Elsewhere in the business, BlackRock saw $6.5bn in inflows for Q3, taking total retail assets under management to $535bn.

Within the retail business, fixed income flows again dominated, attracting $4.6bn of inflows, of which $2.4bn was in unconstrained strategies.