BlackRock loses 2 billion in assets under management until September due to the fall in the markets

Oct. 13 () –

The value of BlackRock’s assets under management at the end of September was slightly more than 2 trillion dollars (a similar figure in euros) lower than the value that its assets had registered at the end of 2021, according to the income statement related to the third quarter of 2022 published this Thursday by the manager.

Specifically, as of September 30, the assets managed by the firm were valued at 7.961 trillion dollars, below the 10.010 trillion recorded as of December 31, 2021. The difference is the result of a negative impact of the exchange rate of 365,444 million dollars, from a depreciation in the markets of 1,876 billion and a positive impact of 192,845 million from deposits.

In the third quarter alone, the value of assets managed by BlackRock fell by 6.2%, from the 8.487 trillion observed at the end of the second quarter of the year.

Regarding the firm’s income statement, BlackRock recorded a net attributable profit of 1,406 million in the whole of the third quarter of 2022, which represents a decrease of 16.4% compared to the same period of 2021.

The turnover between July and September was 4,311 million, 14.6% less. Income from investment advice and administration commissions was 3,369 million, 11.1% less; while commissions for technology services grew by 5.6%, to 338 million dollars.

On their side, those originating from distribution fell 18.9%, to 325 million, while success fees plummeted 76.2%, to 82 million dollars.

Employee compensation expenses were 1,339 million, 12.3% less, while those from distribution and services stood at 536 million, 8.4% less, and general and administrative expenses experienced a decrease of 9, 3%, up to 554 million.

In the whole of the first nine months of the year, BlackRock’s net attributable profit fell 8%, to 3,919 million dollars, while its income fell 5.1%, to 13,536 million.