UPDATE 1-BlackRock hiked CEO Larry Fink's pay by 9 percent in 2017 -filing

(Adds details on BlackRock performance in 2017)

NEW YORK, April 13 (Reuters) - BlackRock Inc, the world's largest asset manager, raised the total compensation for chairman and chief executive officer Larry Fink by 8.9 percent in 2017, according to a filing on Friday.

Fink was awarded $27.7 million in compensation last year, compared to $25.5 million in 2016, based on a calculation of his pay in line with U.S. Securities and Exchange Commission guidelines.

But BlackRock said it had raised Fink's pay for the year by 9.6 percent to $27.9 million, according to a set of calculations it prefers. The figures differ because BlackRock reports some incentive pay in a different year.

The company's president, Rob Kapito, was paid nearly $22 million, according to the calculations based on regulatory guidelines. Kapito and Fink were among BlackRock's founders in 1988.

BlackRock's stock gained 35 percent in price terms during 2017, hitting $500 a share for the first time. That compares to a 26 percent rise for a Thomson Reuters index that includes more than a dozen of its industry rivals in the United States .

New York-based BlackRock's net income grew by nearly 58 percent in 2017 to $5 billion while the assets overseen by the company topped $6 trillion, an industry record and 22 percent gain over the year prior.

A strong year in stock markets worldwide lifted top managers of funds giving investors access to those gains. BlackRock, which manages the iShares-brand exchange-traded funds, has been investing in future growth in technology and other areas.

In its most recent quarter, BlackRock generated higher profit by luring more money from investors even as stock and bond markets stumbled.

Fink is often quoted for his views on the markets and corporate governance and has been listed among the world's best CEOs by the newspaper Barron's.

His pay is among the richest in investment management globally as well as among U.S. financial firms, according to Thomson Reuters data, and the company's pay to executive officers has drawn criticism from proxy adviser Glass Lewis & Co LLC.

JPMorgan Chase & Co chairman and chief executive Jamie Dimon earned $28.3 million in 2017, while Goldman Sachs Group Inc's Lloyd Blankfein was paid $22 million.

In its own analysis, BlackRock board's compensation committee credited Fink's leadership with the company's ability to develop new business and grow its profits. (Reporting by Trevor Hunnicutt; Editing by Bernadette Baum and Bill Trott)