BlackRock Profits Jump 8.6 Percent

Wochit Headline News - July 17, 2017

(Reuters) - BlackRock Inc (BLK.N), the world's biggest asset manager, reported an 8.6 percent rise in quarterly profit on Monday, helped by higher fees.

The company's index-tracking exchange-traded funds have been growing at a record pace.

BlackRock ended the quarter with $5.69 trillion in assets under management, up from the preceding quarter, when managed assets totaled $4.89 trillion.

In the most recent quarter, the company's iShares ETF business took in $73.8 billion in new money, up from $15.7 billion, a year earlier..

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