BlackRock Inc., the world's largest asset manager, recorded net inflows of $76 billion into its long-term investment funds in the first quarter of this year, which was below the $85 billion forecast by analysts. Nonetheless, assets under management rose to a record $10.5 trillion. Particularly strong were inflows into ETFs with $67 billion and into fixed-income funds with $42 billion.

BlackRock's revenues increased by 11% to $4.7 billion compared to the previous year, and adjusted net income rose by 23% to $1.5 billion, or $9.81 per share, surpassing Wall Street's average estimate of $9.34 per share. In addition, performance fees rose to $204 million, driven by higher revenues from alternative products.

Despite the Strong Capital Inflows, Clients Withdrew $19 Billion from the Company's Separate Cash Management Business and Money Market Funds. Since its Launch in Mid-January, $14 Billion Flowed into BlackRock's Bitcoin ETF.

The CEO of BlackRock, Larry Fink, emphasized the significant growth potential in the areas of infrastructure, technology, retirement planning, and integrated portfolio solutions and pointed to a strong pipeline with the best breadth that the company has ever seen.

The company also announced that it has taken on debt amounting to 3 billion dollars for the planned acquisition of Global Infrastructure Partners. BlackRock also reported share buybacks valued at 375 million dollars for the quarter and a dividend increase of 2% to 5.10 dollars per share.

The Asset Management Industry Experiences a Bumpy Start to the Year, with the S&P 500 Index Rising About 10% in the First Quarter, But Inflation Persists, Making Several Rate Cuts This Year Unlikely. Companies Urged Investors to Move from Cash Yielding Around 5% to Longer-Term Bonds and Other Investments. Nonetheless, Funds Continued to Flow into Money Market Funds, Now Holding Assets Worth $6.1 Trillion, According to Data from the Investment Company Institute as of April 11th. The Bloomberg Aggregate Bond Index Fell by 0.8% in the First Quarter.