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BlackRock profit falls 11 percent


    (Reuters) - BlackRock Inc, the world's largest money manager, said its second-quarter profit had fallen 11 percent as tumultuous market conditions cut into fee income.

    Net income at New York-based BlackRock fell to $554 million, or $3.08 per share, from $619 million, or $3.21 per share, a year earlier.

    Assets under management on June 30 totaled $3.56 trillion, down 3 percent during the quarter and down 3 percent from a year earlier.

    (Reporting by Aaron Pressman in Boston; Editing by Lisa Von Ahn)