BlackRock's third-quarter profit rises as investors pour into ETFs, index strategy

BlackRock BLK posted a rise in third-quarter profit on Tuesday, as investors poured into exchange traded funds and benefited from lower-fee index strategy.

The world's largest asset manager reported adjusted earnings of $1.91 billion, or $11.55 per share, for the three months to September 30, up from $1.72 billion, or $11.46 per share, a year earlier.