American fund manager BlackRock has reported an attributable net income of $875m for the third quarter of 2016, an increase of 4% compared to $843m a year ago.
For the quarter ended 30 September 2016, total revenue stood at $2.83bn, a fall of 3% compared to $2.91bn in the year ago period.
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The company's quarterly operating income dipped 1% to $1.21bn from $1.22bn a year ago.
Assets under management (AuM) at the end of the third quarter were $5.12 trillion, a surge of 13.6% compared to a year ago.
BlackRock chairman and CEO Laurence Fink said: “In the third quarter, even as investor preferences continued to migrate from equity to fixed income and cash, and away from active strategies, the diversity of our platform drove nearly $70 billion of total net inflows.
“Our $55 billion of long-term net inflows were positive across both active and index strategies, and positive across every asset class and region.”
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