BlackRock saw a 14.4% drop in assets under management in 2022, despite $300bn in inflows for the firm.
The world's largest asset manager reported that its AUM had dropped to $8.6trn in the last quarter of 2022, compared to $10trn in the same period a year ago. Quarterly, the firm's AUM was up 8% from the third quarter, when they stood at $8trn. This decline came despite $114bn in inflows in the last quarter of the year, or $300bn for all of 2022, due to poor market performance. The S&P 500 fell 19% in 2022, while the Bloomberg US Aggregate index fell 14%. "We are not immune to complex and volatile market conditions," CEO Larry Fink said in a memo to staff. "The current operating ...
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