Sat, Jul 26, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

BlackRock’s Fink remains bullish despite losses in Q4-2011

Monday, January 23, 2012

Bailey McCann, Opalesque New York: Despite a 16% loss in net income from the previous year, BlackRock’s CEO Laurence D. Fink remains bullish for 2012. The world’s largest asset manager's net income fell $555m in Q4-2011, or $3.05 a share, from $657m, or $3.35, a year earlier (and down 7% from Q3-2011).

The company also cut just over 3% of its workforce over the quarter.

Full year diluted EPS is at $12.37, up 17% from 2010.

The company's advisory fees also fell 4.5% to $1.86bn due to market volatility and low interest rates.

Fink noted on a recent conference call that BlackRock’s expansion into exchange-traded funds (ETFs), multi-asset strategies and hedge fund-like mutual funds had helped the company meet analysts’ expectations despite decreased income and fees.

Overall assets under management fell 1.3% from last year to just over $3.513tln. Results reflected strong inflows of $23.8bn in long-term products (equity, fixed income, multi-asset class and alternative investments) and a $143.3bn improvement in market and investment performance.

In a conference call with analysts and investors, Fink noted that he expects market conditions to remain volatile, citing uncertainty in Europe, the US election and persistent US deficits. He also explained that while investors had fled stocks more recently, global de-risking had improved balance sheets making him more bullish overall.

......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Events – AIMA Australian Hedge Fund Forum, Sept. 16, Sydney[more]

    AIMA Australia invite you to join us at our annual Hedge Fund Forum on Tuesday 16th September 2014 at the Sofitel Sydney Wentworth. The AIMA Australian Hedge Fund Forum is a non-profit hedge fund conference organised by the industry for the industry, featuring quality Australian and internation

  2. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm

  3. Opalesque Exclusive: Loeb, Grantham cite growing economic concerns in letters[more]

    Bailey McCann, Opalesque New York: Hedge fund manager Daniel Loeb, head of Third Point, and Jeremy Grantham of Grantham, Mayo, Van Otterloo & Co. have both released their quarterly investor letters today. While news is positive on some fronts, and both men see pockets of opportunity, they also h

  4. Investing – Hedge funds expect Netflix earnings to catapult forward, Third Point's Loeb takes stakes in Fibra Uno, YPF, Royal DSM, Lake Capital in talks to back Engine Group[more]

    Hedge funds expect Netflix earnings to catapult forward From Investing.com: Netflix has made major strides forward in 2014 despite ongoing battles with the FCC and cable companies over the issue of net neutrality. The FCC has now received over 500,000 comments from the public on its pend

  5. Hedge fund manager Winton Capital making headway with long-only strategy[more]

    From PIonline.com: North American investors are helping Winton Capital Management Ltd. make progress — albeit slowly — toward its founder's goal of becoming a $100 billion company. The firm's ticket to quadrupling its assets under management is unlikely to be one of its scientifically designed manag