BlackRock CEO: We generated a record $429B of total net inflows in 2019
CEO Larry Fink said, "Today's results reflect the systematic investments we've made to build broader and deeper client relationships and meet their evolving needs. Clients are increasingly looking to BlackRock as a strategic partner to deliver not just products, but broader thought leadership on macro and geopolitical issues and whole-portfolio solutions powered by technology. BlackRock's 2019 results confirm the uniqueness of our globally integrated, asset management and technology platform. We generated a record $429 billion of total net inflows in 2019, representing 7% organic asset and 5% organic base fee growth, and ended the year with strong momentum, capturing $129 billion of flows in the fourth quarter. Full year flows were positive across product type and investment style, including records in cash, factors and illiquid alternatives. Continued investment in Aladdin, including the acquisition of eFront, drove record growth in technology services revenue to almost $1 billion for the year. The recently announced acceleration of our sustainability efforts is yet another example of BlackRock's commitment to helping clients build more resilient portfolios and navigate investment opportunities and risks. We begin 2020 well positioned to continue fulfilling our purpose and leading the evolution of the asset management industry."