This was much better than the Dividend Aristocrat T. Rowe Price's (NASDAQ: TROW) net client outflows of $24.6 billion during the same period. With the conflict in Ukraine, continuing pandemic concerns, elevated inflation, and the prospects of a global recession weighing on investors' minds, major market indices have tumbled in 2022. Along with a 76.2% year-over-year plummet in performance fees to just $82 million, this accounts for BlackRock's double-digit decline in total revenue.