The value of assets managed by BlackRock reached $10.6 trillion

Assets under management of BlackRock, the world's largest asset manager, reached a record level of $10.6 trillion. But revenue and assets under management did not meet expectations

Assets under management at BlackRock, the world's largest asset management company, reached an all-time high of $10.6 trillion in the second quarter.

Although assets under management reached a record high, the company narrowly missed revenue expectations as inflows were stagnant.

BlackRock reported revenue of $4.81 billion for the quarter ending June 30, up 8 percent year over year. However, in the Bloomberg survey, the expectation was 4.84 billion dollars.

A net inflow of $82 billion was achieved in assets under management, an increase of 1.7 percent compared to the previous quarter. However, the inflow expectation of $112 billion could not be met due to insufficient long-term flows.

Stock inflows fell to $6 billion as corporate clients rebalanced. Fixed income inflows also fell short of expectations, with one large client withdrawing $20 billion.