Asset Management

Plunging markets drag BlackRock assets below $7tn

First-quarter profit fell 23% at the world's largest investment manager

Money management giant BlackRock's profits fell by 23% in the first quarter, as a global pandemic and waves of selling gripped the investment world.

Investors added a net $35bn in new money to the firm’s coffers, down by about half from the prior-year period.

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