BlackRock's assets increased to a record high value in the first quarter, but the CEO of the world's largest asset manager said anxiety was dominating markets, even if the recent selloff did not pose risks to financial stability.

Key Takeaways BlackRock topped profit estimates for the first quarter on Friday, while revenue fell just short.The investment giant also set a new record for assets under management at $11.58 trillion.

BlackRock, the world’s largest asset management firm, reported first-quarter net income of $1.5 billion, down 4% from the year prior and just falling short of Wall Street’s expectations of $1.57 billion.