(Reuters) -BlackRock Inc posted a smaller-than-expected drop in quarterly profit on Thursday as strong demand for exchange-traded funds and other low-risk products cushioned the hit to fee income from a global market rout.
The threat of a recession, rapidly rising interest rates and the Ukraine crisis have slammed both bonds and stocks this year, keeping investors on the back foot in a blow to businesses such as BlackRock.
The company’s assets under management (AUM) dropped 16% year-on-year to…
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