BlackRock Flows Disappoint Amid Institutional Investor Fears
- Long-term net inflows of $10.6 billion were lowest since 2016
- Shares of BlackRock declined on the news of weak inflows
Pedestrians walk past BlackRock Inc. headquarters in New York.
Photographer: Bess Adler/BloombergThis article is for subscribers only.
BlackRock Inc. the world’s largest money manager, saw its net flows soften in the third quarter, as nervous investors yanked money from its products.
Long-term net inflows of $10.6 billion in the quarter were the lowest since 2016, a result Chief Executive Officer Larry Fink called disappointing on Tuesday. Institutions withdrew $24.8 billion from BlackRock’s index and active products in the period.