(Reuters) -Assets managed by BlackRock ( BLK ), the world's largest money manager, hit a record high of $10.65 trillion in the second quarter on Monday, thanks to rising client asset values and as investors pumped money into the company's ETFs.

Shares of the company rose 1.2% in premarket trading.

Stock markets have scaled record highs in the last few months amid rising hopes of a soft landing for the U.S. economy and investor frenzy around artificial intelligence-linked stocks.

The benchmark S&P 500 index jumped about 11% in the reported quarter, boosting BlackRock's ( BLK ) assets under management to $10.65 trillion, up from $9.43 trillion a year earlier. Fees earned from managing and servicing its client assets make up a substantial portion of the company's revenue.

BlackRock ( BLK ) registered total net inflows of $81.57 billion in the quarter, slightly higher than $80.16 billion a year earlier.

Exchange-traded funds captured the majority of flows, at $83 billion, marking its best start to a year on record, BlackRock ( BLK ) said.

"BlackRock ( BLK ) is executing on the broadest opportunity set we've seen in years, including in private markets," CEO Larry Fink said.

Investment advisory and administration fees, typically a percentage of AUM, rose 8.6%, to $3.72 billion.

Revenue from technology services jumped 10%, to $395 million, reflecting sustained demand for its investment risk management platform, Aladdin.

BlackRock's ( BLK ) total revenue jumped 8%, to $4.81 billion.

Net income rose to $1.50 billion, or $9.99 per share in the three months ended June 30, from $1.37 billion, or $9.06 per share, a year earlier.

Last month, the company agreed to buy data provider Preqin in a deal valued at nearly $3.2 billion, underscoring BlackRock's ( BLK ) push to become a major player in private markets.

Its shares have risen 2% so far this year, underperforming the 17.7% gain of the S&P 500 index.