BlackRock ( BLK) shares rose 4% Wednesday morning as the asset manager posted better-than-expected quarterly results on record assets under management (AUM).

BlackRock said in its fourth-quarter earnings report Wednesday that assets under management jumped to a record $11.55 trillion, up from $10 trillion a year ago. Analysts surveyed by FactSet had expected BlackRock to report a record $11.

BlackRock posted a 21% fourth quarter jump in profit after buoyant equity markets increased income from fees and drove its assets to a record high of $11.6 trillion, the world's largest money manager said on Wednesday.

Rising stock prices tend to bode well for BlackRock, the world’s largest money manager, as inflows boost the hundreds of funds it offers. The past quarter was likely no exception. Analysts tracked by FactSet expect the New York-based firm to report a record $11.

BlackRock's stock climbed 4.4% in premarket trading after the asset manager's Q4 earnings beat estimates with record inflows and revenue growth.

BlackRock's assets hit a record high $11.6 trillion in the fourth quarter of last year as the world's largest money manager posted a 21% profit jump, with fee income buoyed by stronger equity markets.

BlackRock's assets reached a record in the fourth quarter of over $11 trillion, driven by a more than 20% profit increase. The world's largest money manager saw assets rise from nearly $10 trillion a year ago.