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BlackRock Reports Third Quarter Diluted EPS Of $3.65, Or $3.47 As Adjusted

“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%
iShares 705,765 21% 625 32% 1,815 32% 644,909 20% 596 31%
Institutional:
Active 880,726 26% 452 23% 1,343 23% 849,991 26% 440 23%
Index 1,393,928     41%     203     11%     605     11%     1,386,508     43%     222     12%
Total institutional 2,274,654     67%     655     34%     1,948     34%     2,236,499     69%     662     35%
Total long-term $ 3,378,373     100%     $ 1,934     100%     $5,724     100%     $ 3,255,418     100%     $ 1,902     100%
 
 

Long-term net inflows from clients in the Americas and EMEA of $21.6 billion and $14.2 billion, respectively, were partially offset by net outflows of $4.5 billion from Asia-Pacific. At quarter end, BlackRock managed 61% of long-term AUM for investors in the Americas and 39% for international clients.

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