Jan 15 (Reuters) - The world's largest asset manager BlackRock reported a higher fourth-quarter profit on Thursday as a rally in markets lifted fee income and pushed its assets under management to a record
$14.04 trillion.
The company reported adjusted earnings of $2.18 billion, or $13.16 per share, for the three months to December 31, up from $1.87 billion, or $11.93 per share, a year earlier.
U.S. stocks have rallied on enthusiasm around artificial intelligence, easing interest rates and steady economic growth, fueling gains in equity markets and prompting investors to pour money back into lower-cost index strategies.
As inflation eased and the job market cooled, the Federal Reserve turned more dovish, driving strong inflows into BlackRock's fixed-income products. Total fixed income inflows amounted to $83.77 billion, up from $23.78 billion in the fourth quarter.
BlackRock's assets under management rose to $14.04 trillion in the quarter, up from $11.55 trillion a year earlier.
Long-term net inflows totaled about $267.8 billion, led by continued strength in its ETF business, the firm's main engine of organic growth.
ETFs are increasingly popular with investors seeking low-cost, diversified exposure across markets.
BlackRock stock has gained 4.4% in 2025, lagging the broader S&P 500 index in 2025.
(Reporting by Prakhar Srivastava in Bengaluru and Lewis Krauskopf in New York; Editing by Devika Syamnath)
