BlackRock's assets under management hit a record high for the third straight quarter on Friday, helped by surging inflows to the company's exchange-traded funds and a searing equity rally that boosted the value of its clients' investments.

BlackRock Inc. pulled in a record $221 billion of total client cash last quarter, pushing the world’s largest money manager to an all-time high of $11.5 trillion of assets as it seeks to become a one-stop shop for stocks,

Stocks at record levels and robust bond markets should set up BlackRock to report a record amount of assets under management when it discloses its quarterly earnings on Friday, even as Wall Street analysts say profits will slip from a year ago and fees will remain under pressure.