“Our ability to perform through a wide range of environments positions BlackRock to continue to deliver exceptional value for clients and shareholders. BlackRock’s employees have remained intensely focused on serving our clients, and I want once again to express my gratitude and admiration for their commitment to our clients and the Firm.”
Third Quarter Business Highlights
BlackRock had long-term net inflows of $31.3 billion in third quarter 2012 excluding the effect of a s ingle, low-fee, institutional index fixed income outflow of $74.2 billion, which BlackRock declined to re-bid at extremely low fees. Net new business figures below exclude this redemption. See Attachment IV for further information on changes in assets under management.
Assets under management (“AUM”) totaled $3.673 trillion at September 30, 2012, up 3% from June 30, 2012 and up 10% from a year ago. Net inflows in long-term products totaled $31.3 billion (excluding the previously mentioned $74.2 billion outflow), reflecting equity, fixed income and multi-asset class product net inflows of $21.9 billion, $8.7 billion and $2.6 billion, respectively, partially offset by alternatives net outflows of $1.9 billion. Total net inflows of $19.0 billion also included cash management net inflows of $7.1 billion and planned advisory distributions of $19.4 billion. AUM also reflected market valuation gains, investment performance and the acquisition in September 2012 of Swiss Re Private Equity Partners, the European private equity franchise of Swiss Re.
|Long-term AUM: The following table presents long-term AUM and base fees by client type:|
|(Dollar amounts in millions)||September 30, 2012 AUM||% of Total||Q3 2012 Base Fees||% of Total||YTD 2012 Base Fees||% of Total||June 30, 2012 AUM||% of Total||Q2 2012 Base Fees||% of Total|
|Retail||$ 397,954||12%||$ 654||34%||$ 1,961||34%||$ 374,010||11%||$ 644||34%|
|Total long-term||$ 3,378,373||100%||$ 1,934||100%||$5,724||100%||$ 3,255,418||100%||$ 1,902||100%|
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