BlackRock up on Q4 profit rise, record assets

** Shares of BlackRock BLK.N rise 3.6% to $998 premarket

** Investment advisory and administration fees, BlackRock's chief source of revenue, jump 23.4% to $4.25 billion in the reported quarter

** BLK assets hit a record high of $11.6 trillion in Q4

** Assets managed by the New York-based company increased to $11.55 trillion from $10.01 trillion a year earlier and $11.48 trillion in Q3

** Co on adjusted basis reports net income of $1.87 billion, or $11.93 per share, for Q4, compared with $1.45 billion, or $9.66 per share, from a year earlier

** Registers total net inflows of $281.42 billion, up from $95.65 billion in year-ago quarter

** BLK shares rose 26.3% in 2024

(Reporting by Jaiveer Singh Shekhawat in Bengaluru)

((JaiveerSingh.Shekhawat@thomsonreuters.com;))