Blackrock saw €6.2bn (£4.9bn, $7.2bn) in net inflows during the first three months of the year, mainly into its iShares business.
This contrasts with the net outflows suffered by the wider industry during the quarter.
Blackrock now has €562.1bn in assets under management in Europe-domiciled funds, compared to €525.9bn for runners-up Amundi and Deutsche Bank combined.
Even though Blackrock reinforced its leadership position in terms of AuM, it was beaten by Generali as far as Q1 net inflows are concerned (see chart).
The Italian asset management firm generated the bulk of its net inflows (€6.7bn) from its home market, according to data from Assogestioni, the Italian asset management association.