Money manager faces a price war that is rippling across asset management world

Former Reporter

BlackRock the world’s biggest money manager, posted a fall in first-quarter profit as a price war ripples across the asset management world.

The company posted quarterly profit of $1.05bn, or $6.61 a share. That is down from $1.09bn, or $6.68 a share, a year earlier. Analysts polled by FactSet were expecting a profit of $6.04 a share.

BlackRock’s profits fall but assets hit $6tn again

BlackRock’s profit fall but assets hit $6tn again

Allison Prang

Dawn Lim

BlackRock

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