morning all
BlackRock's Assets Top $10 Trillion On Biggest Quarterly Inflow Since 2015
BlackRock burnished its reputation as the world's largest asset manager on Friday when it revealed in its Q4 earnings reports that its assets under management had finally topped $10 trillion, marking a new world record for a publicly-traded asset manager.
Surging equity valuations helped propel BR's AUM to the $10 trillion mark, as did a net inflow of $104 billion into its ETFs during the three months of the quarter. That's the biggest quarterly inflow since 2015, according to Bloomberg data.
The investing giant beat the Street's expectations for top-line growth by a substantial margin: Q4 net income increased to $1.64 billion or $10.63/share from $1.55 billion or $10.02/share from the year-ago quarter. On average, analysts polled by Reuters expected the company to report earnings of $10.15/share on revenues to $5.17 billion for the quarter.
Excluding one-time items, adjusted net income for Q4 was $1.61 billion or $10.42/share, compared to $1.57 billion or $10.18/share in the prior-year quarter. Meanwhile, total revenue for the quarter increased 14% to $5.11 billion from $4.48 billion in the same quarter last year.
As for what accounted for BlackRock's better-than-expected earnings, the firm saw a net inflow of $212 billion between its cash, long-term investing and advisory businesses. This brought the firm's total full-year net inflow to $540 billion, reflecting 6% organic asset growth and 11% organic base fee growth, led by record inflows to its ETFs and its active investing strategy.
Here's a rundown of BlackRock's earnings and revenue by business segment via Bloomberg:
*Assets under management $10.01 trillion, +15% y/y, estimate $9.85 trillion (Bloomberg Consensus)
*Adjusted EPS $10.42 vs. $10.18 y/y, estimate $10.15 (range $9.750 to $10.70)
*Net inflows $211.74 billion, +67% y/y, estimate $176.63 billion
*Long-term inflows $168.55 billion, +45% y/y, estimate $136.19 billion
*Institutional net inflows $43.09 billion vs. $2.12 billion y/y
Retail net inflows $21.52 billion, -39% y/y
*Equity net inflows $45.11 billion, -6.2% y/y, estimate $46.48 billion
*Fixed Income net inflows $100.89 billion, +61% y/y, estimate $43.91 billion
*Revenue $5.11 billion, +14% y/y, estimate $5.16 billion (range $5.05 billion to $5.24 billion)
*Investment advisory performance fees $329 million, estimate $426.1 million
*Base fees and securities lending revenue $3.97 billion, estimate $3.99 billion
*Technology services revenue $339 million, estimate $334.2 million
*Operating margin 39.9% vs. 41.3% y/y
*Adjusted operating margin 45.5% vs. 46.6% y/y, estimate 44.2%
*Total expenses $3.07 billion, estimate $3.15 billion
moar
https://www.zerohedge.com/markets/blackrocks-assets-top-10-trillion-biggest-quarterly-inflow-2015
from Jan 3
2021 ETF Inflows Hit $900B
https://www.etf.com/sections/monthly-etf-flows/etf-monthly-fund-flows-december-2021
When you run the NY Fed's ETF 'buying program' and have an open conduit to them this is not a surprise.
Algerian AF GLF45 G5 departed Savannah, GA
Seen these usually with the tail # as the call sign-think it was GLF45 a few days ago.
Know there is a maintenance facility there but they are here way moar than just routine maintenance
169326 P-8 Poseiden from JAX dropping altitude over Bahamas
AE6898 P-8 Poseiden off Space Coast from JAX
Royal AF RRR9102 A330 nw from MacDill
VENUS67 G5 sw from JBA @40 k ft (VENUS flight are non-VIP 99th Airlift squad but noted as this is in the top 3 of high level AC's for them-the KAF AC of interdast-cap #2
TOLL79 US Navy E-6B Mercury from Pax River over Delaware
Further west we have SPAR545 USAF Learjet heading west from Scott AFB, IL
EXEC1F USAF C-32A departed JBA for Kentucky
Guess Not AF1 Joe is too busy getting his briefing at 10am EST and then a press conference @ 12:30pm EST where he won't take real questions and then bailing to Delaware.
https://factba.se/biden/calendar
45 woulda been there the next day and done 50 other things on top of this stuff
'''Jill Biden to visit Bowling Green, Kentucky
Kentucky'''
On Friday, Jan. 14, First Lady Jill Biden will travel to Bowling Green with Deputy FEMA Administrator Erik Hooks.
White House officials say she will join Governor Andy Beshear and First Lady Britainy Beshear to survey recovery efforts following the devastation from recent tornadoes and volunteer at a local FEMA State Disaster Recovery Center. She is set to arrive in Kentucky around late-morning, early afternoon.
https://www.tristatehomepage.com/news/kentucky-news/first-lady-jill-biden-to-visit-kentucky/
give me a minute
Pakistan Army MA267 Bombardier 700 to Baku, Azerbaijan from Lahore
from Jan 8
Pakistan's exports to Central Asian countries witness increase of $41m
Pakistan's exports to Central Asian countries witnessed an increase of 41 million dollars during last fiscal year as compared to the preceding year.
In a series of tweets, Adviser on Commerce and Investment Abdul Razak Dawood said Pakistan's exports to Central Asian countries increased to 145 million dollars during last fiscal year from 104 million dollars in 2019-20.
He said for six months, from July to December last year, these exports were increased by 173 percent to 134 million dollars from 49 million dollars during same period last year.
Abdul Razak Dawood said the Ministry of Commerce’s ‘Silk Route Reconnect’ initiative is now bearing results.
The Advisor on Commerce said Pakistan is also negotiating Preferential Trade Agreements and transit trade agreements with Afghanistan, Azerbaijan and Uzbekistan.
https://www.radio.gov.pk/08-01-2022/pakistans-exports-to-central-asian-countries-witness-increase-of-41m-dawood