It saw AUM climb 17% in 2020 to $8.6 trillion. BlackRock Reports First Quarter 2020 Diluted EPS of $5.15, or $6.60 as adjusted New York, April 16, 2020 – BlackRock, Inc. … So we think there's still demand, but the demand is going to be shown differently as they come in. Hello there. Overall G&A expense increased 7% year over year, reflecting higher levels of noncore items primarily related to the net impact of higher product launch costs, legal fees, COVID-19-related costs and fixed asset impairments, offset by lower contingent fair value adjustments, FX remeasurement expense and deal-related costs during the year. My name is Jerome, and I will be your conference facilitator today. We more than doubled our illiquid alternative platform over the last five years, and today, we manage $86 billion on behalf of clients. Samantha Tortora, Investor Relations 212.810.5397. And of course, we are trying to stare into a crystal ball like everybody else, but margin last year benefited from record performance fees. LTPC is one of the largest first-time funds raised to date with a total of $3.4 billion and a great example of BlackRock's ability to innovate and organically develop private market solutions to meet our clients' evolving needs. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. Everyone, please feel safe. Excluding approximately $280 million of noncore G&A expense incurred in 2020, which included $166 million of aggregate fund launch costs, core G&A expense for the year remained essentially flat compared to 2019 as higher technology and portfolio services fees were offset by lower T&D expense. BlackRock Capital Investment invites all interested persons to attend its webcast/teleconference at 10:00 a.m. (Eastern Time) on Thursday, March 4, 2021 to discuss … It's not just about beating a benchmark or peer medium, but delivering incremental, tangible dollar returns for clients. In most of our short-term funds, mutual funds, ETFs, they could sell those assets in a day. Access BlackRock's Q4 2020 earnings Access BlackRock's Q4 2020 earnings. Wealth managers are increasingly looking for partners who can provide personalization and whole portfolio solutions. We will continue to invest and innovate in the years to come, so we could be better helping millions of people to build up savings, to make investments easier, more affordable. But obviously, as you know, our competitive advantage in terms of what we believe drives a lot of our value proposition is global reach, is best-in-class technology, risk management, diverse investment capabilities across the spectrum of active and passive and then, obviously, to be able to bring all of that together. Gary Shedlin - Chief … And for the firms who only have a product or in one asset category, they have a difficult time to really respond to whole portfolio solutions. In addition, a large U.S. public pension client recently announced a diversification of their plan to meet revised guidelines. Assets under management grew to … We are seeing strong demand from our top-performing active mutual fund franchise, even as the broader U.S. active mutual fund industry saw more than $250 billion of outflows in 2020. And it's my pleasure to present results for the fourth-quarter and full-year 2020. Cumulative Growth of a $10,000 Investment in Stock Advisor, BlackRock (BLK) Q4 2020 Earnings Call Transcript @themotleyfool #stocks $BLK, BlackRock Increases Its Quarterly Dividend to $4.13, BlackRock Earnings Soar in the Fourth Quarter and the Full Year, How BlackRock Is Encouraging Companies to Go Green, BlackRock Buys Aperio, Boosting Its Separately Managed Accounts, Copyright, Trademark and Patent Information. With that, let's open it up for questions. Good morning. And today, we're a little bit over 2% of the global capital market. No firm can do this at this moment. Even today, BlackRock only is 2% of the global financial assets, and we see tremendous opportunities ahead to continue supporting the growth of global capital markets and helping more people invest and save. I believe the elevation of content by the wealth manager has been one of the giant changes, too. It is not true. Hi. Actually, it's on scale. Shares of BlackRock (NYSE:BLK) fell 0.3% in pre-market trading after the company reported Q4 results.. Quarterly Results. BlackRock assumes no duty and does not undertake to update any forward-looking statements. So we are benefiting from that. Momentum in fundraising remains strong, and we have approximately $24 billion of committed capital to deploy for institutional clients in a variety of strategies, representing a significant source of future base and performance fees. Nonoperating results for the quarter included $153 million of net investment income primarily driven by mark-to-market gains on our unhedged seed and co-investment capital. BlackRock (NYSE:BLK)Q4 2020 Earnings CallJan 14, 2021, 8:30 a.m. Following the close of the Aperio transaction in early February, we will incur additional intangible amortization expense relative to 2020. We want to make it easy for wealth managers to access our investment strategies across funds, ETFs, SMAs and models and construct a more resilient risk-aware portfolio using our technology. Your next question comes from Glenn Schorr with Evercore. These results reflect the benefits of our consistent investments and the diversity of our platform. Fourth-quarter total net inflows of $127 billion, representing 7% annualized organic AUM growth and 13% annualized organic base fee growth, were led by flows into iShares and our top-performing active franchise. … Not in the United States and not in Europe. In addition and also subject to market conditions, we expect to seek board approval later this month for an increase to our first-quarter 2021 dividend. Our hosts for today's call will be Chairman and Chief Executive Officer Laurence D. Fink, Chief Financial Officer Gary S. Shedlin, President Robert S. Kapito and General Counsel Christopher J. Meade. 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