April 16, 2019 / 10:27 AM / 3 days ago

BlackRock quarterly profit falls 3.3 pct

April 16 (Reuters) - BlackRock Inc, the world’s largest asset manager, on Tuesday reported a 3.3 percent drop in quarterly profit, as investors shunned its expensive funds and flocked toward low risk, inexpensive funds.

Net income attributable to BlackRock fell to $1.05 billion, or $6.61 per share, in the first quarter ended March 31 from $1.09 billion, or $6.68 per share, a year earlier. (bit.ly/2XenIdZ) (Reporting by Bharath Manjesh in Bengaluru; Editing by Sriraj Kalluvila)

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