Blackrock is worth more than $ 9 trillion

The world’s largest capital investment company is growing into new dimensions during the pandemic. Business with ETF products in particular is in full swing.

The Blackrock headquarters in New York

Dhe continued positive development in the capital markets had Blackrock’s assets under management swell above the $ 9 trillion mark for the first time by the end of March. As the largest asset manager in the world reported on Thursday, there was a record inflow of new client funds of 172 billion dollars in the first three months. According to CEO Larry Fink, it was the fourth quarter in a row with a cash inflow of more than $ 100 billion.

In addition, assets under management increased by $ 165 billion, primarily due to the rise in share prices on the stock markets. At the end of last year, Blackrock had $ 8.7 trillion in assets under management. It has increased by $ 2.5 trillion from March 2020. Blackrock is the world’s leading provider of exchange traded funds (ETFs). In the first quarter, customers invested $ 68 billion in ETF products. Net income increased 16 percent from the year-ago quarter to $ 1.2 billion.

Blackrock’s major role in the international financial markets has now met with increasing criticism. Recently, the citizens’ movement Finanzwende, founded by the former Green finance politician Gerhard Schick, criticized Blackrock’s market power.