The BlackRock headquarters in New York. BlackRock helps investors build better financial futures. As a fiduciary to our clients, we provide the investment and technology solutions they need when planning for their most important goals. As of December 31, 2017, the firm managed approximately USD6.288 trillion in assets on behalf of investors worldwide. Photo courtesy of BlackRock

New York, NY, USA - January 12, 2018

BlackRock Reports Full Year 2017 Diluted EPS of $30.23, or $22.60 as adjusted Fourth Quarter 2017 Diluted EPS of $14.07, or $6.24 as adjusted

• Record $367 billion of full year total net inflows reflects continued strength of diversified business model

• $103 billion of fourth quarter net inflows, positive across active, index and iShares® and cash management

• 12% full year revenue growth driven by growth in base fees, performance fees, and technology and risk management revenue

• 15% increase in full year operating income (13% as adjusted) reflects operating margin expansion

• 59% increase in full year diluted EPS reflects net tax benefit from Tax Cuts and Jobs Act (17% as adjusted)

• Returned $2.8 billion to shareholders in 2017

• Board of Directors approves 15% increase in quarterly cash dividend to $2.88 per share

BlackRock, Inc. (NYSE: BLK) today reported financial results for the three months and year ended December 31, 2017.

Long-term interest rates remain stuck in a range that has defined the last six years. BlackRock's Russ Koesterich discusses why #2018 may see more of the same. http://bit.ly/2Cm1TQ8 Photo courtesy of BlackRock

FINANCIAL RESULTS

Courtesy of BlackRock

Photo courtesy of BlackRock

“BlackRock’s record 2017 results reflect the long-term investments we’ve consistently made in our business to better serve clients,” commented Laurence D. Fink, Chairman and CEO of BlackRock.
“$367 billion of total net inflows for the year were the strongest flows in BlackRock’s history, and included $103 billion in the fourth quarter.

Photo courtesy of BlackRock

“Full year net inflows represented 7% organic asset growth and were positive across client types, asset classes, major regions and investment styles. Investors are increasingly seeking comprehensive solutions, and BlackRock’s differentiated ability to offer scaled investment strategies, industry leading risk management and portfolio construction technology and thought leadership is driving deeper client partnerships than ever before. And we continue to expand the global reach of our integrated platform to investors in high growth geographies like China, where earlier this month we obtained our private fund management registration to manufacture and distribute onshore investment products.

“RIAs are distinguishing themselves by acquiring clients at scale and increasing focus on customizable portfolios” - Salim Ramji, Head of BlackRock U.S. Wealth Advisory #SchwabIMPACT Photo courtesy of BlackRock

“iShares ETFs generated $245 billion of full year net inflows, as an increasingly diverse set of institutional and retail clients are using ETFs for asset allocation and alpha generation. Investors are using both equity and fixed income ETFs in their portfolios for Core and precision exposures and as financial instruments. Investments made in iShares ETFs drove expanded market share in 2017 and enabled us to once again capture the #1 share of industry ETF flows globally, in the United States and Europe, and in both equity and fixed income products.

Kurt Reiman, #BlackRock’s Chief Investment Strategist for Canada, calls book #4 on our holiday #reading list a “realistic perspective on what governments will be able to do to limit further income inequality.” See the full list here: http://bit.ly/2C1MuU0 Photo courtesy of BlackRock

“In alpha-seeking strategies, we are leveraging the powerful combination of human investment expertise and sophisticated data analytics. Performance across our alpha-seeking strategies remains strong and drove $24 billion of net inflows in 2017.

We're at #SchwabIMPACT demoing the BlackRock Advisor Center. Stop by booth 825 to learn more and meet our team. Photo courtesy of BlackRock

“Technology and risk management revenue, powered by Aladdin® , increased 14% for the full year, and demand remains strong across our full range of capabilities. In 2017, we expanded our technology reach, scaling our distribution capabilities through Aladdin Risk for Wealth Management, Cachematrix, iCapital and Scalable Capital. We continue to invest in technology and data to generate improved alpha, better serve our clients and more efficiently run our business.

We're proud to win our fourth @pensionsnews "Best Places to Work in Money Management" award. #BPTW2017_PI http://bit.ly/2AvPpIo Photo courtesy of BlackRock

“Throughout BlackRock’s 30-year history, we have been driven by a fiduciary commitment to our clients, a culture of innovation, a passion for performance and a workplace that embraces diversity and inclusion. We are fortunate to have dedicated employees who share our vision of creating better financial futures for clients. We enter 2018 well positioned to continue investing for future growth, developing our talent and delivering differentiated value for clients and shareholders alike.”

We think @BlackRock rocks! Thanks to our #PartnerOfTheDay for helping 20 girls learn to code this summer! Photo courtesy of BlackRock

CAPITAL MANAGEMENT

BlackRock’s Board of Directors approved a 15% increase in the quarterly cash dividend to $2.88 per share, payable March 22, 2018, to shareholders of record at the close of business on March 7, 2018.


RESULTS BY CLIENT TYPE

Courtesy of BlackRock

BUSINESS HIGHLIGHTS

Long-term net inflows were positive across all major regions, with net inflows of $55.3 billion, $17.9 billion and $7.4 billion from clients in the Americas, EMEA and Asia-Pacific, respectively.

At December 31, 2017, BlackRock managed 63% of its long-term AUM for clients in the Americas, 29% for clients in EMEA and 8% for clients in Asia-Pacific.

The Company’s net flows by client type for the fourth quarter of 2017 are presented below.

• Retail long-term net inflows of $11.4 billion reflected net inflows of $7.4 billion in the United States and $4.0 billion internationally. Fixed income net inflows of $8.0 billion were diversified across our top-performing active platform, led by net inflows into unconstrained, short duration and municipals categories. Multi-asset net inflows of $2.0 billion were largely due to inflows into the Multi-asset Income fund family. Equity net inflows of $1.1 billion were paced by flows into international equities.

• iShares ETFs long-term net inflows of $54.8 billion reflected strength in iShares Core, precision exposure and financial instrument ETFs. Equity net inflows of $44.9 billion were driven by both U.S. and international equity market exposures. Fixed income net inflows of $8.7 billion reflected inflows into broad fixed income and investment grade corporate funds. Commodities iShares generated $1.0 billion of net inflows.

• Institutional active long-term net inflows of $2.2 billion were led by multi-asset net inflows of $2.9 billion, reflecting ongoing demand for our LifePath® target-date series and factors strategies, and fixed income net inflows of $2.3 billion. Equity net outflows of $1.2 billion were primarily due to outflows in fundamental active equities. Alternatives net inflows were $2.1 billion, excluding $3.9 billion of capital return associated with real estate and private equity fund-of-funds, or $1.8 billion of total net outflows. Momentum in illiquid alternatives fundraising continued, with $17 billion of committed capital available to invest on behalf of clients.

• Institutional index long-term net inflows of $12.2 billion included fixed income net inflows of $24.0 billion, led by demand for liability-driven solutions, partially offset by equity net outflows of $9.0 billion. Alternatives net outflows of $2.5 billion were primarily due to outflows from passive currency overlays.

Cash management AUM increased 6% from the prior quarter to $449.9 billion.


INVESTMENT PERFORMANCE AT DECEMBER 31, 2017

Courtesy of BlackRock

Contact

Investor Relations
Tom Wojcik
212.810.8127

Media Relations
Brian Beades
212.810.5596


About BlackRock

BlackRock helps investors build better financial futures.

As a fiduciary to our clients, we provide the investment and technology solutions they need when planning for their most important goals.

As of December 31, 2017, the firm managed approximately $6.288 trillion in assets on behalf of investors worldwide.

For additional information, please visit the Company’s website
at www.blackrock.com  

Twitter: @blackrock_news

Blog: www.blackrockblog.com  

LinkedIn: www.linkedin.com/company/blackrock  


Source: BlackRock, Inc.

https://www.blackrock.com/  



ASTROMAN Magazine - 2017.01.24

BlackRock: Larry Fink's annual letter to CEOs. I write on behalf of our clients…

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2185  


ASTROMAN Magazine - 2016.05.21

BlackRock Hires Mark Wiseman as a Senior Investment Leader, responsible for investing over USD 275 billion

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2068  


ASTROMAN Magazine - 2016.05.18

BlackRock projects smart beta ETF assets will reach USD 1 trillion globally by 2020, and USD 2.4 trillion by 2025

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=2067  


ASTROMAN Magazine - 2015.01.17

BlackRock Reports USD 181.3 billion of long-term net inflows for 2014 and USD 87.8 billion for the fourth quarter of 2014

https://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1861