BlackRock became the first publicly traded asset manager to cross the $10 trillion mark in assets under management in the final quarter of 2021, driven primarily by taking in almost a third of all inflows into U.S. ETFs last year.
The asset manager reported having $10.01 trillion in assets overall at the end of 2021, a gain of just under $546.5 million from the end of the third quarter of 2021 and a year-over-year gain of $1.3 billion.
The firm’s ETF arm generated $104 billion in flows during the quarter and $306 billion over the year, amounting to 34% of the $900.02 billion in assets that flowed into the industry last year, according to FactSet data.
The iShares Core S&P 500 ETF (IVV) led all of BlackRock’s ETFs by inflows during the year, gaining nearly $28 billion in net flows. However, the firm reported $267 billion worth of flows into active strategies both within the ETF business and other investment wrappers.
“Let’s be clear, many of our flows in ETFs were from active strategies,” said BlackRock CEO Larry Fink, who expressed confidence in flows growth continuing through 2022.
Revenues from BlackRock’s ETF arm rose $1.3 billion between the end of 2020 through 2021, ending at a combined $5.9 billion between equity and fixed income fees.