BlackRock Inc. became the first public asset manager to hit $10 trillion in assets, propelled by a surge in fourth-quarter flows into its exchange-traded funds.
Investors poured a net $104 billion into ETFs in the three months ended Dec. 31, the firm said Friday in a statement — a record for the company.
The world's largest asset manager also benefited from a rally in markets, with the S&P 500 climbing 11% in the latest quarter and 27% in 2021.
Investors added a net $169 billion to BlackRock's long-term investment vehicles, including ETFs and mutual funds, in the final three months of the year.
"Our business is more diversified than ever before," Chief Executive Officer Larry Fink said in the statement. "Active strategies, including alternatives, contributed over 60% of 2021 organic base fee growth."
The results reinforce BlackRock's position atop the industry, with assets under management rebounding from a dip at the end of the third quarter.
