Assets under management climbed to over $6.3 trillion. Global iShares ETFs dropped 46% to $34.6 billion hurt by market volatility fuelled in turn by inflation and trade war concerns. The ETF business is likely to see softness in growth going forward.
During the quarter, the asset manager saw large inflows as well as outflows from institutional clients due to market volatility and the tax reform.
BlackRock has been on the radar in an environment where the focus on gun stocks and gun control is increasing. The money manager, which has a majority stake in many gun companies, has been facing pressure to use its position to bring in effective rules for gun safety. The company indicated that it was time for action on the issue of guns and it is likely it might take steps in this direction.
Earlier this month, BlackRock said it would bring out two new ETFs and a series of index-tracking products for pension and retirement plans that would exclude stocks of gun makers and sellers.
