BlackRock profit jumps 21% on fixed-income boost

A sign for BlackRock Inc hangs above their building in New York.

Lucas Jackson | Reuters

BlackRock, the world’s largest asset manager, reported a 21% jump in quarterly profit on Friday, as investors poured money into its fixed-income funds and cash management services.

The New York-based company’s net income rose to $1.21 billion, or $7.85 per share, in the second quarter ended June 30, from $1.00 billion, or $6.41 per share, a year earlier.

The company ended the quarter with $7.32 trillion in assets under management, up from $6.84 trillion a year earlier.