BlackRock Inc Reports 17.7% Year-Over-Year Increase in Assets Under Management
BlackRock Inc, the world’s largest asset manager, has reported a 17.7% year-over-year increase in its assets under management (AUM) for the second quarter. This growth is attributed to the company’s diverse platform of investment strategies.
Key Highlights
- Assets under management (AUM) increased by 17.7% year-over-year in the second quarter
- Growth driven by diverse platform of investment strategies
- BlackRock has expanded its presence in the Indian mutual fund market through its joint venture with Reliance’s Jio Financial Services, Jio BlackRock
Expansion into Indian Mutual Fund Market
BlackRock has established a joint venture with Reliance’s Jio Financial Services, Jio BlackRock, to expand its presence in the Indian mutual fund market. The company is leveraging digital-first direct distribution and cutting-edge investment technology to make inroads into the country’s $600 billion mutual fund industry.
Update on XRP Exchange-Traded Fund
BlackRock has addressed the question of launching an XRP exchange-traded fund, stating that it has no plans to file for such a product at this time.