BlackRock drew in $192bn of capital in the second quarter, pushing assets under management at the world's largest money manager to a record $15.3tn. The influx beat Wall Street forecasts, driven largely by clients in the Americas and its iShares exchange traded funds business.

Revenues jumped 31 per cent to $7.1bn, while net income rose 20 per cent to $1.9bn. The adjusted operating profit margin reached 45.9 per cent, its highest in nearly five years. Chief executive Larry Fink said market fundamentals are strong, with organic base-fee growth at 8 per cent, above the 5 per cent target.

The New York-headquartered group expanded into higher-margin products including active ETFs and private markets. It attracted $22bn across alternatives, including $15.4bn for private credit, infrastructure and real estate. Shares rose over 5 per cent in pre-market trading.