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The giant money management firm BlackRock is now managing a record $4 trillion after customers put more money into its stock mutual funds and exchange traded funds.
The flow of new money helped push BlackRock’s third-quarter profit up 14 percent from the period a year earlier. The company said net income in quarter rose to $730 million, or $4.21 a share, from $642 million, or $3.66 cents a share, in the third quarter of 2012. The results were roughly in line with the expectations of analysts polled by Bloomberg News.But BlackRock’s results were less impressive when compared with the second quarter of the year, as net income and revenue fell slightly. But the company attracted new money from its customers to a number of its product lines.
The iShares exchange trade funds, among the company’s fastest growing parts, drew in $20 billion, and $8 billion came into its retail funds. That was offset by the nearly $11 billion that big institutions took out of active and indexed stock funds. Overall inflows were $25.2 billion.
The company’s chief executive, Laurence D. Fink, said in a statement that the growth came despite the hesitation investors have had in putting new money to work, given all the uncertainty out of Washington.

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