American money manager BlackRock has posted a net income of $822m, or $4.84 per share, for the first quarter of 2015, an increase of 8.7% compared to $756m, or $4.40 per share, a year ago.
Total revenue for the quarter ended 31 March 2015 increased to $2.72bn from $2.67bn in the corresponding quarter of 2014.
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Assets under management stood at $4.77 trillion, up 8% from $4.4 trillion a year earlier.
The company saw $70.4bn in long-term net inflows for the first quarter, with net inflows of $47.5bn, $17.7bn and $5.2bn from clients in the Americas, EMEA and Asia-Pacific respectively.
BlackRock chairman and CEO Laurence Fink said, "In the first quarter, BlackRock’s diverse investment platform and relentless focus on clients and performance drove long-term net inflows of $70 billion. This was one of the most broadly diverse flow quarters in BlackRock’s history. Flows were positive across all long-term asset classes, client types, regions and investment styles, with active net inflows of $32 billion and index net inflows of $38 billion.
"Our $252 billion of net new inflows over the last twelve months and continued strong growth in Aladdin allowed us to achieve year-over-year revenue growth despite the level of transaction-related revenue in last year’s first quarter and significant foreign exchange headwinds, which reduced the value of our non-dollar denominated base fees."
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