BOSTON, Nov 11 (Reuters) - U.S. asset manager BlackRock Inc said on Tuesday three-quarters of the cash that left its money market funds in the third quarter have since returned as government steps to back the industry have calmed investor fears.
"Since the end of the third quarter, the flows have been coming back into the money market funds. We've seen about three-quarters of the assets that left the funds come back into the funds," BlackRock President Robert Kapito told the Reuters Global Finance Summit.
BlackRock, the biggest publicly traded U.S. asset manager and one of the largest money market fund firms, said in October that it suffered $41.6 billion of outflows in its Prime money market funds.
The firm had said then that it saw $13.8 billion of net inflows in its money market funds since the end of the third quarter.
Kapito's comment would suggest net inflows have strengthened further. The BlackRock president did not reveal actual flow numbers.
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