Assets managed by BlackRock (BLK.N), opens new tab hit a record $10.65 trillion in the second quarter thanks to rising client asset values and as investors pumped money into the company’s ETFs, the world’s largest asset manager said on Monday.

Shares in 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 an investor frenzy around artificial intelligence-linked stocks.