格隆汇1月15日｜贝莱德表示，作为与微软合作的一部分，已成功筹集125亿美元，以用于投资数据中心 及能源基础设施。是次集资令贝莱德更接近其于2024年宣布该项合作时所定下的300亿美元集资目标。 贝莱德行政总裁芬克于周四在公司公布第四季度业绩后与分析师的电话会议上表示，有关人工智能合作 项目持续吸引大量资金。 ...

Financial Data and Key Metrics Changes - In Q4 2025, the company generated earnings per share (EPS) of $14.01, with a return on equity (ROE) of 16% and a return on tangible equity (ROTE) of 17.1% [21] - For the full year, EPS was $51.32, representing a 27% increase compared to the previous year, with an ROE of 15% and an ROTE of 16%, improving by 230 and 250 basis points respectively from 2024 [21] - The company reported total revenues of $13.5 billion for Q4 and $51.5 billion for the full year, with a significant increase in total assets under supervision reaching a record $3.6 trillion [21][24] Business Line Data and Key Metrics Changes - Global Banking and Markets (GBM) produced record revenues of $41.5 billion for the year, up 18% year-over-year, with investment banking fees rising 25% to $2.6 billion in Q4 [22] - FICC net revenues were $3.1 billion in Q4, up 12% year-over-year, while equities net revenues reached $4.3 billion, with equities financing results hitting a quarterly record of $2.1 billion, up 42% year-over-year [23][24] - Asset and Wealth Management (AWM) revenues were $16.7 billion for 2025, with a pre-tax margin of 25% and record management fees of $3.1 billion in Q4, up 10% year-over-year [24] Market Data and Key Metrics Changes - The investment banking backlog rose for the seventh consecutive quarter to a four-year high, primarily driven by advisory activities [23] - The company maintained its number one position in M&A advisory and ranked first in leverage lending, with a strong outlook for investment banking activity in 2026 [22][23] Company Strategy and Development Direction - The company is focused on narrowing its strategic focus and enhancing its client offerings, including the transition of the Apple Card portfolio and the completion of the General Motors credit card program [5][21] - The firm aims to grow its more durable financing revenues, which comprise 37% of total FICC and equity revenues, and has set a target of achieving a pre-tax margin of 30% in AWM [9][11] - The introduction of One Goldman Sachs 3.0, an operating model propelled by AI, aims to improve efficiency and accountability across the organization [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the investment banking outlook for 2026, citing catalysts such as corporate strategic repositioning and increased sponsor activity [7][20] - The company is confident in its ability to deliver strong returns for shareholders, supported by a robust capital position and diversified funding mix [28][29] - Management acknowledged potential challenges from economic growth, policy uncertainty, and market volatility but remains focused on disciplined risk management [28][29] Other Important Information - The company announced a $0.50 increase in its quarterly dividend to $4.50, representing a 50% increase from the previous year, and has $32 billion of remaining buyback capacity [16][28] - Total operating expenses for the year were $37.5 billion, with compensation expenses of $18.9 billion, reflecting a compensation ratio of 31.8% [27] Q&A Session Summary Question: How does the company plan to scale wealth management? - Management highlighted the strength of its ultra-high net worth franchise and plans to expand through third-party wealth channels, including partnerships with RIAs [30][31] Question: What is the level of confidence in maintaining mid-teens returns? - Management believes they have significantly raised the floor for returns, supported by the growth of durable revenues, and expects to operate in the mid-teens through the cycle [34][35] Question: Is there potential for transformational M&A? - Management stated that while they are open to opportunities, the bar for significant transformational M&A remains high due to cultural integration considerations [42] Question: What is the current state of the capital markets cycle? - Management indicated that the environment is set up to be constructive for M&A and capital markets activity in 2026, with expectations of exceeding 2021 activity levels [44][45]

Core Viewpoint - BlackRock (BLK.US) reported strong financial results for Q4, with revenue and earnings exceeding analyst expectations, indicating robust demand for its investment products and services [1] Financial Performance - Q4 revenue increased by 23% year-over-year to $7 billion, surpassing the average analyst estimate of $6.7 billion [1] - Adjusted earnings per share grew by 10% year-over-year to $13.16, exceeding the average analyst forecast of $12.28 [1] Asset Management Growth - In Q4 2025, BlackRock attracted a total of $342 billion in net inflows from clients, raising its assets under management (AUM) to a record $14 trillion [1] - The company reported a net increase of $268 billion in its long-term investment funds, with $181 billion flowing into its exchange-traded funds (ETFs), bringing the total size of this business to $5.5 trillion [1] Annual Performance Highlights - The total inflow for the last three months of the year, along with money market and cash management funds, pushed the annual total inflow to $698 billion, marking a historical high [1]

Core Insights - BlackRock (BLK.US) shares rose over 4%, closing at $1,139.20, following a strong earnings report for Q4 [1] - The company's Q4 revenue increased by 23% year-over-year to $7 billion, surpassing analysts' average expectation of $6.7 billion [1] - Adjusted earnings per share grew by 10% year-over-year to $13.16, exceeding analysts' forecast of $12.28 [1] Financial Performance - In Q4, BlackRock attracted a total of $342 billion in net inflows from clients, bringing assets under management (AUM) to a record $14 trillion [1] - The company reported a net increase of $268 billion in its long-term investment funds, with $181 billion flowing into its exchange-traded funds (ETFs), raising the total size of this business to $5.5 trillion [1] - The total inflow for the last three months of the year, combined with money market and cash management funds, reached a historic high of $698 billion for the year [1]

美股开盘，三大指数集体高开，纳指涨0.95%，标普500指数涨0.65%，道指涨0.3%。 台积电涨超4%创新高，Q4业绩及2026年营收指引全面超预期。 阿斯麦、科磊涨超7%，应用材料涨超8%，齐创新高，台积电2026年资本开支大幅上调，提振半导体设 备板块信心。 贝莱德涨超5%，Q4调整后EPS超预期，资产管理规模达到创纪录的14万亿美元。 (格隆汇) ...

来源：第一财经 【时政新闻】 ②欧洲主要股指涨跌不一，截至发稿，英国富时100指数涨0.48%，法国CAC40指数跌0.18%，德国 DAX30指数涨0.06%； 【公司新闻】 ①贝莱德与微软的AI合作项目已筹集125亿美元； ②摩根士丹利：2025年第四季度净营收178.9亿美元； ③高盛：2025年第四季度净营收134.5亿美元； ①英国通信管理局称将继续调查X平台伪造图像事件； ②美驻卡塔尔空军基地警戒级别已降低； ③美国上周初请失业金人数为19.8万人； 【市场动态】 ①美股三大股指期货涨跌不一，截至发稿，道指期货跌0.05%，标普500指数期货涨0.39%，纳指期货涨 0.9%； ④台积电：2025年第四季度净利润同比增35%，该美股盘前涨逾6%。 (本文来自第一财经) ...

钛媒体App 1月15日消息，贝莱德第四财季吸纳了3,420亿美元的客户资金，资产管理规模升至创纪录的 14万亿美元。该公司正整合一系列近期收购，加快向私募市场领域扩张。贝莱德周四在公布全年及季度 业绩的声明中表示，投资者在第四财季向其长期投资基金净投入2,680亿美元，其中有1,810亿美元流入 ETF业务，使其ETF整体规模达到5.5万亿美元。去年最后三个月的强劲流入推动包括货币市场基金和现 金管理基金在内的全年总吸金规模达6,980亿美元，创下历史新高。（广角观察） ...

Group 1 - BlackRock attracted a total of $342 billion in client inflows during Q4, raising its assets under management to a record $14 trillion [1] - Q4 revenue increased by 23% year-over-year to $7 billion, exceeding analyst expectations of $6.7 billion; adjusted EPS grew by 10% to $13.16, surpassing the average forecast of $12.28 [1] - The net inflow into long-term investment funds was $268 billion, with $181 billion flowing into its exchange-traded funds, bringing the total ETF assets to $5.5 trillion [1] - The total inflow for the year reached a historic high of $698 billion, driven by inflows into money market and cash management funds [1] - BlackRock's CEO Larry Fink stated that global clients are looking for broader allocation through the BlackRock platform, which spans various products and regions [1] Group 2 - Following the acquisition of HPS Investment Partners, BlackRock is integrating these acquired companies and launching new products for affluent retail investors and defined contribution retirement plans [2] - In the liquidity alternative assets and private assets sectors, BlackRock attracted $15.6 billion in funding during the quarter [2] - BlackRock's stock price increased by 13.4% over the past 12 months, while the S&P 500 index rose by 18.6% during the same period [2]

| = US 30 | 49.210.00 | 49,228.30 | 49,049.40 | +60.30 | +0.12% | | --- | --- | --- | --- | --- | --- | | = US 500 | 6,954.20 | 6,955.70 | 6,912.20 | +27.20 | +0.39% | | 트 US Tech 100 | 25,669.90 | 25,683.30 | 25,399.10 | +204.00 | +0.80% | 2. 截至发稿，德国DAX指数跌0.23%，英国富时100指数涨0.43%，法国CAC40指数跌0.32%，欧洲斯托克50指数涨0.53%。 盘前市场动向 1. 1月15日(周四)美股盘前，美股三大股指期货齐涨。截至发稿，道指期货涨0.12%，标普500指数期货涨0.39%，纳指期货涨 0.80%。 | 德国DAX30 | 25,257.43 | 25,337.02 | 25,235.00 | -57.44 | -0.23% | | --- | --- | --- | --- | --- | --- | | 瑞 英国富时100 | 10 ...

•BMI报告预计，马来西亚央行将在2026年全年维持2.75%的政策利率不变。尽管经济增速或从2025年的 4.6%放缓至4.1%，但内需韧性及可控通胀（预计1.9%）支撑按兵不动立场。同时，美联储终端利率预 期下调至3.25%，美马利差收窄利好林吉特，BMI将2026年底美元兑林吉特汇率预期从4.10上调至4.00 （当前约4.0505）。 PIMCO：因美国政策不可预测，将系统性降低美国资产敞口 BMI：马来西亚央行2026年将按兵不动，林吉特有望走强至4.00 澳大利亚国民银行：产能利用率创18个月新高，澳储行2月加息预期升温 【机构分析】 •劳埃德银行外汇策略师指出，特朗普政府推动对美联储采取法律行动具有明显政治动机。尽管其任内 经济数据表面亮眼，但民众实际就业状况恶化——多个行业岗位减少，失业人数累计增加约70万。在就 业基本面持续走弱背景下，拥有独立决策权的美联储正被当作"非常方便的替罪羊"。美国政府通过指责 其货币政策，试图转移公众对劳动力市场深层次问题的关注，掩盖经济增长与民生脱节的现实。 •野村资产管理策略师表示，在通胀企稳、名义GDP加速增长的背景下，日本企业盈利有望持续扩张。 近年来日本 ...