The US-listed asset management group said there had been a slight drop for net income in the quarter.

BlackRock, the world’s largest asset management firm, today reported that its assets under management reached $6.515 trillion at the end of March, rising from $6.317 billion a year ago, logging net flows of $64.7 billion in the quarter, rising from $56.95 billion. 

The US-listed organization said net income fell slightly to $1.053 billion in Q1 2019, down by 4 per cent on the same quarter in 2018. Operating income fell by 11 per cent to $1.233 billion.

However, within the net flow figures, there was a net outflow of $813 million on the retail side. The exchange-traded funds business – going under the iShares brand – logged $30.688 billion of inflows; institutional inflows were $29.124 billion, with the remaining inflows from advisory and cash management, it said in a statement.

“The breadth of our investment capabilities, spanning index, alpha-seeking, alternatives and cash, coupled with our industry-leading technology and portfolio construction capabilities, allowed us to generate strong flows and continue to meet the evolving needs of our global clients,” Laurence Fink, chairman and chief executive, said.