Photo via CBS News
Today, Blackrock, the US investment behemoth, announced record annual results, raking in $367bn (£269bn) during last year.
The revenues of the company rose by 12 percent, with earnings per share increasing by 59 percent.
Last year, Blackrock returned $2.8bn to shareholders, and the board of the company signed off on a 15 percent dividend increase to $2.88 per share.
Laurence D. Fink, the chairman and chief executive of Blackrock, said: “Blackrock’s record 2017 results reflect the long-term investments we’ve consistently made in our business to better serve clients.”
He added: “$367bn of total net inflows for the year were the strongest flows in Blackrock’s history and included $103bn in the fourth quarter.”
Blackrock’s iShares exchange-traded funds (ETF) offering is the most popular among the offerings of the company with inflows amounting to $245bn.
Fink added: “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.”