BlackRock reported an almost 50% rise in third quarter net profits compared to the same period a year ago – a boost for the US funds giant ahead of its multi-billion dollar merger with Barclays Global Investors, set to complete in December.

BlackRock's revenues in the three months to the end of September totalled $1.1bn (€735m), according to its results for the period released today. Net profits were $317m, up 46% on the same period last year.