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.

BlackRock on Friday reported better-than-expected first-quarter adjusted profit but CEO Larry Fink said client conversations are full of "uncertainty and anxiety."

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.