Blackrock Laurence Fink
Blackrock CEO Laurence D Fink.Reuters

Investment management corporation BlackRock saw an extra $28.7bn of client money flow into its long-term funds, as well as capital boosts to its bond ETF (Exchange-Traded Funds), as investors relocated assets following the departure of Pimco's legendary founder Bill Gross.

The US-based BlackRock reported a 26% increase in profit with net income reaching $970m over the third quarter 2014, compared to $780m in the same period a year earlier.

Excluding certain items, adjusted earnings of $5.21 per share beat the $4.66 average of 19 analysts canvassed by Bloomberg.

Cash inflows were driven by its iShares ETFs, which BlackRock acquired with Barclays Global Investors at the end of 2009. These added a net $18.2bn in equities.

Fixed income saw $11.1bn in net new money boosted by the abrupt September 26 departure of Pimco's Gross.

BlackRock's chief executive officer, Laurence Fink said investors were looking for "options to maintain exposure to the broad fixed income market in the current environment".

Fink has the firm's leadership as it seeks to improve performance of its active products and appeal to individual investors.

Revenue rose to $2.9bn, up 15% from a year earlier as fees increased. Assets at the world's biggest money manager were up 10% year-on-year to $4.52 trillion.