BlackRock is closing in on funds under management of $4 trillion after what one Nomura analyst described as “a pretty darn good” year for the world’s largest investment manager.

The US funds giant today reported full-year net profits of $2.5bn, up 5% on a year ago. Profits were driven by revenues of $9.3bn over the year, up 3% on the total for 2011.

The giant US fund manager now oversees $3.8 trillion in assets after what one analyst described as 'a pretty darn good' year for the group

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BlackRock nears $4 trillion milestone

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