BlackRock, the world's top fund manager by assets, gained a net inflow of more than $3 billion from the Asia-Pacific region into its long-term funds in the third quarter.
Eight percent of the firm's $4.7 trillion of long-term assets under management come from clients domiciled in the Asia-Pacific region, compared with 63% from the Americas and 29% from Europe, the Middle East and Africa.
Overall, the figures presented in the firm's third-quarter financial report were positive. Assets under management – including in short-term funds – hit $5.1 trillion at the end of the quarter, a rise of 14% compared with the corresponding quarter in 2015.
There were some negative results, such as an overall net outflow of $2.2 billion from long-term retail funds in the third quarter. Fixed income retail funds attracted new money overall in the quarter, but this gain was outweighed by retail outflows from equity and multi-asset funds.
In contrast, net institutional inflows into actively managed long-term funds were $7.5 billion in the quarter.
"In the third quarter, even as investor preferences continued to migrate from equity to fixed income and cash, and away from active strategies, the diversity of our platform drove nearly $70 billion of total net inflows," said Laurence D Fink, chairman and chief executive.
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