2023-07-14

Fed raising rates - who benefits?

Well there's the big US banks -

Those are some of them.

How about Blackrock?

(Reuters) -BlackRock Inc, the world's largest asset manager, posted a 25% rise in its second-quarter adjusted profit on Friday, benefiting from investors pouring money into its various market funds.

On an adjusted basis, BlackRock earned $1.4 billion, or $9.28 per share, for the three months ended June 30, compared with $1.1 billion, or $7.36 per share, a year earlier.

The New York-based firm ended the second quarter with $9.4 trillion in assets under management (AUM), up from $8.5 trillion a year earlier and higher than $9.1 trillion in the first quarter this year.

 

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