The Banking and Strategy Initiative

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Bank Results Season: Blackrock stay on with $3.66 tln AUM

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Blackrock also reported yesterday but we could not find time to schedule for the press conference tonight. It maintained EPS over Q1 at $3 per share  ( $3.21 DEPS)It completed repurchase of the last 13.6 mln preferred BofA interest in BLK for $2.5 bln thru new debt of $2 bln incl $500mln Commercial Paper.  Revenue in the two quarters has been $2.3 bln each. Revenue and Earnings/Op MArgin are up 16% and 19% y-o-y

Long term products continued to report high inflows at $ 34 bln adding $18 bln in net new business and higher margin iShares recd more focus from the Fink’s team. Equity AUM ticked down 1% and Fixed Income AUM ticked up 2% ($27 bln). The $1.2 tln AUM in Fixed Income is 48% Index products and 52% active products (information on active/index might come later as we expand the series on Asset management after the series on Treasury and Security Services) Alternatives continued their tick down but Multi Asset grew 11%

iShares AUM stands at $632 bln. Other Retail AUM at $400 bln and Fixed Income/Institutional AUM at $2.25 tln, 61% of the same in Index products

Our reference: Seeking Alpha transcripts were unavailable 


Second quarter 2011 total operating expenses of $1,481 million:

  • Employee compensation and benefits of $824 million
  • Distribution and servicing costs of $100 million
  • Direct fund expenses of $153 million increased $10 million primarily related to an increase in average AUM
  • General and administration expenses of $345 million in second quarter 2011 were up $5 million from first quarter 2011.
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One comment on “Bank Results Season: Blackrock stay on with $3.66 tln AUM

  1. Angelica
    May 24, 2012

    >silver prices have beeefitnd more than gold from the economic rebound.Really, everyone else is saying that silver and gold are enjoying record highs because there isn’t really a rebound. >the extent to which inflation occupied investors’ attention, despite its near universal absenceReally, everyone else is saying that the inflation numbers are cooked books’ , not even considering food and energy. I know that I’m paying a lot more for food, gas, clothes, and just about everything. The only thing that’s losing value is the dollar.>While we like silver as a long-term play, we would prefer a better entry point.Really, is it not true that trying to time the market is a poor strategy for a long-term play?


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