BlackRock posted increases in everything from revenue to assets in the first quarter, but the world’s largest asset manager wasn’t immune from the dynamics causing headaches for many in its industry, The Wall Street Journal reports.
The New York firm pulled in a net $64.6 billion, thanks largely to investors seeking out lower-cost funds that track the performance of indexes. Assets under management rose 14% from a year ago, to $5.42 trillion. Profits were up 31%.
