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⚡️BlackRock Hits Record $11.5 Trillion In Assets Amid Market Rally And ETF Surge

⏺BlackRock's assets under management hit a record high for the third quarter in a row, helped by rising inflows into the company's exchange-traded funds and soaring stock gains that have boosted the value of its clients' investments.

⏺Stock markets reversed the August sell-off and extended gains in the third quarter, driven by renewed hopes for a soft landing for the U.S. economy following encouraging inflation data. Broad market equities ended the third quarter higher, with the S&P 500 index up 5.4% and the MSCI Worldwide Stock Index rising 6.2%.

⏺Assets managed by BlackRock rose to $11.48 trillion in the third quarter, up from $9.10 trillion a year earlier and $10.65 trillion in the second quarter. The world's largest asset manager recorded $160 billion in long-term net flows in the third quarter. Total net flows hit a quarterly record of $221.18 billion, up from $2.57 billion a year earlier. Most of the inflows came from ETFs, at $97.41 billion. Meanwhile, clients poured $62.74 billion into BlackRock's fixed income products#moonbix #SUIHitsATH

⏺With Fed finally beginning its long-awaited easing cycle, asset managers are poised to benefit as huge cash reserves move into riskier assets such as fixed income products#btc #london #blockchain