BlackRock, the world’s largest asset manager, posted an almost 20% rise in profits during the final three months of 2020, with bumper inflows helping to push assets under management to a new record.

The New York-headquartered investment giant pulled in net inflows of $126.9bn between October and December, allowing assets to sail to a new high of $8.68tn. This was up from $7.4tn at the end of 2019.