(NYSE: BLK), the world's largest asset management firm, recently updated investors on its quarterly earnings. The firm's results were mixed, missing analysts' revenue estimates but blowing earnings expectations out of the water and beating those estimates by 28%.  

The firm has a long history of increasing assets under management (AUM), which are integral to the investment firm's bottom line. However, BlackRock's AUM declined modestly from the previous quarter, and it saw outflows on its long-term investments of $12.6 billion. In this article, we'll dig into the details of the decline and what investors should do about it.

BlackRock runs the world's largest asset management firm. Its $9.1 trillion in AUM puts it well ahead of its closest competitors, Vanguard ($7.2 trillion), Fidelity ($3.9 trillion), and The Capital Group ($2.3 trillion). 

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Source Fool.com