Sat, May 25, 2013
A A A
Welcome Guest
Free Trial RSS
New! Family Office and Investor Database with 11,750 contacts
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
Article link
Banner
Today's Exclusives Today's Other Voices Banner More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Endurance Series Trust launches first mutual fund, multi-series trust[more]

    Bailey McCann, Opalesque New York: Endurance Series Trust, a multi-series trust, is launching with Gator Capital Management, LLC as the adviser for the Trust’s first mutual fund series. Endurance Fund Services, LLC, an independently owned and operated fund administration company will serve as t

  2. Morgan Creek Capital Management to acquire Signet Capital Management[more]

    Bailey McCann, Opalesque New York: Investment firm Morgan Creek Capital Management has acquired Signet Capital Management a UK-based credit fund of funds with $700M in assets under management. Under the agreement, Signet will contribute its funds and senior investment management team to Morgan Creek

  3. North America – Students are launching hedge funds on colleges across America[more]

    From Valuewalk.com: …From Cornell, whose student-run hedge fund beat Wall Street returns to the University of Michigan, which allows its students to manage as much as $250,000, student hedge fund are becoming a more prominent part of financial education. Their success has attracted the attention of

  4. Comment – Can hedge funds survive Bernanke?[more]

    From Bloomberg.com: …The biggest reason for the market tranquility might be the Federal Reserve's repeated assurances that it will maintain zero interest rates and provide monetary stimulus until the economy recovers, and unemployment ebbs. That may just account for the recent flurry of storie

  5. Niche Investing in Wine - Champagne: There has been relatively little research in this area as the market is still quite opaque - most of the top Champagne producers still refuse to publish annual production figures, for example. However, the top vintage Champagnes are generally produced in larger volumes than many of their red wine co
Click here for More about Opalesque Tracking
- A new, unique Premium Service -
  1. New Zealand
  2. Aspiring
  3. wine investment
  4. Commodity Strategies
  5. Penrich
  1. ubs
  2. people
  3. Anchorage
  4. pioneer
  5. MS