JPMorgan’s profits rose on higher Wall Street earnings.

BlackRock attracted record new funding in the final two quarters of 2024, generating $641 billion in annual net income.

The world’s largest asset manager reported assets under management of $11.55tn at the end of December, below analyst expectations of $11.66tn.

But the earnings helped boost revenue 23 percent to $5.68 billion in the final three months of the year, beating analysts’ estimates, and full-year revenue up 14 percent.

BlackRock has benefited from rising markets, which has helped boost the value of its assets under management. It also managed to increase base payments, however, the $12.5 billion acquisition of Global Infrastructure Partners brought additional assets to the group.

Net income for the quarter rose 21 percent to $1.67 billion.

BlackRock shares rose 3.7 percent in premarket trading in New York.