BlackRock Inc, the world's biggest asset manager, reported a 31 per cent rise in quarterly profit helped by higher investment advisory fees and securities lending revenue.
The company ended the quarter with US$5.4 trillion in assets under management, up from the preceding quarter, when managed assets totaled US$5.1 trillion.
BlackRock's net income rose to US$862 million, or US$5.23 per share, in the first quarter, from US$657 million, or US$3.92 per share, a year earlier.
Excluding items, the company earned US$5.25 per share.
Net investment in fixed-income securities totaled US$33.37 billion. Across all of its products, BlackRock attracted a net US$80.34 billion in long-term equity investments.
In the most recent quarter, the asset manager's iShares exchange-traded funds business took in $64.48 billion in new money, up from $24.25 billion, a year earlier.
The lion's share invested in ETFs went into stocks.