BlackRock reported an 84% decline in fourth-quarter income, to $53 million, and full-year 2008 net income of $786 million, a 21% decline. Assets under management only declined negligibly, however, by 3.7% to $1.3 trillion.

The year's results also include a $38 million restructuring charge related to severance and other costs related to a 9% reduction in BlackRock's workforce.

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