BlackRock’s quarterly net income fell slightly from a year earlier, while the investment firm’s assets under management edged higher to a record $11.6 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.

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.