The group saw net inflows of $20bn, positive across active, index and cash management, but down nearly 81% on the same time last year. It also reported outflows of £1.56m in its equity products.
Meanwhile, Blackrock’s iShares ETFs saw inflows of $17.8bn in Q2, however, these were down from $34.6bn in the first quarter.
Laurence D Fink, chairman and CEO, said: “Secular trends supportive of Blackrock’s future growth continue, especially in technology, including Aladdin and digital wealth, alternatives and iShares.
“Despite an industry-wide slowdown in flows associated with investor uncertainty in the current market environment, our dialogue with clients and opportunities to provide long-term solutions are more robust than ever before.”
The asset manager is reportedly a frontrunner for a £109bn mandate from Lloyds Banking Group.
Overall, Blackrock’s revenue still grew 11% year-over-year (YoY) driven by base fees, performance fees and technology services revenue. Operating income increased 16% and earnings per share were up 28% YoY.
