 "FILE PHOTO: A sign for BlackRock Inc hangs above their building in New York US. Photo: Reuters")
BlackRock Inc's fourth-quarter profit beat analyst estimates on Friday, as the world's largest money manager's fee income rose with assets under management scaling a new peak of $10 trillion.
A strong finish to the year by global financial markets helped boost the performance of asset managers in general, with BlackRock also benefiting from its large scale and wide reach.
Assets under management stood at $10.01 trillion at the end of the quarter, up from $8.68 trillion a year earlier.
“It’s an impressive milestone and it just illustrates their dominance in the fastest growing areas within the industry,†said Kyle Sanders,
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