BlackRock, the world’s largest money manager, reported assets under management declined in the fourth quarter amid a choppy market environment that had left investors more cautious about putting their money with asset managers.
BlackRock’s assets under management fell 5% to $5.98tn from the comparable quarter a year ago, and down 7% from the previous quarter. Analysts polled by FactSet had expected assets under management to dip to $6 trillion.
