$39 million increase in sec lending revenue for BlackRock
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$39 million increase in sec lending revenue for BlackRock 19 April 2012New York Reporter: Georgina Lavers
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Investment advisory, administration fees and securities lending revenue of $2 billion in first quarter 2012 remained about equal to first quarter 2011 as higher fees from the majority of long-term asset classes and a $39 million increase in securities lending revenue were offset by lower fees from active equity and cash management products.
Total revenue for investment advisory, administration fees and securities lending was $ 2.2 billion, a $33 million decrease from year-on-year figures, but a $22 million increase from 31 December 2011.
Separate account assets and collateral held under securities lending agreements were recorded at $145 million, a $5 million increase from the figure seen at 31 December 2011.
"Our first quarter 2012 results are a strong testament to the power of BlackRock's diversified business model and history of innovation," said Laurence Fink, chairman and CEO of BlackRock.
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