BlackRock’s Q3 securities lending revenue stood firm year over year but fell $32 million below the previous quarter.
The US asset manager’s Q3 sec lending revenue was valued at $115 million, the same amount earned in Q3 2014, according to BlackRock’s latest figures.
The Q2 to Q3 2015 drop reflects the “effect of lower markets on average equity AUM and seasonally lower securities lending fees, partially offset by the effect of one additional revenue day in the current quarter”, according to BlackRock.
BlackRock’s exchange-traded funds, iShares, saw long-term net inflows of $23.3 billion, including fixed income net inflows of $18.2 billion. This represented strong flows into US treasuries.
Equity net inflows of $5.3 billion were driven by flows into European-listed iShares and reflected demand for developed market exposures.
