NEW YORK (Reuters) - BlackRock Inc's chief executive officer said on Tuesday that he was seeing much stronger inflows from investors in the third quarter, sending the money manager's shares up more than 2 percent.
"We are seeing a renewed flow, and our pipeline has never been larger," Laurence Fink said at the Barclays Capital 2010 Global Financial Services Conference.
Fink said inflows at the firm in the third quarter so far were more similar to the fourth quarter of 2009, when BlackRock saw a sharp increase in inflows and its earnings soared.
For the fourth quarter, BlackRock reported net inflows of $39.7 billion. That compares with $28.4 billion in the second quarter of 2010.
Fink said BlackRock, which manages more than $3 trillion in assets, had been seeing strong inflows "across the board" in bonds, equities, and both passively and actively managed products. He also said the firm was beginning to see inflows in cash.
BlackRock shares were up 2.2 percent at $154.03 on the New York Stock Exchange on Tuesday after Fink's remarks.
(Reporting by Emily Chasan; Editing by Lisa Von Ahn)
