BlackRock, the world's largest asset manager, is continuing to be hurt by underperformance and outflows in the quantitative-equity funds it inherited from its acquisition of Barclays Global Investors, suggesting it still has work to do to make the transformational deal work.

The fund management giant reported in its results for the second quarter that it had $26.3bn (€20.5bn) of net outflows from the computer-driven equity funds, which have been struggling since before BlackRock bought BGI.