Fri, Jan 20, 2017
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. Investing - This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally, Hedge fund legend David Einhorn is making a big bet on GM, After impressive 85% return in 2016, hedge fund looks to Canadian gold producer, small banks[more]

    This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally From Forbes.com: Can bank stocks continue to rise after a 28% surge in the KBW Bank Index in 2016, fueled by a post-election rally as stock pickers returned to the beaten down sector? Forget the s

  2. SWFs - China sovereign wealth fund CIC plans more U.S. investments[more]

    From Reuters.com: China Investment Corporation (CIC), the country's sovereign wealth fund, is looking to raise alternative investments in the United States due to low returns in public markets, its chairman said on Monday. CIC will boost its investments in private equity and hedge funds as wel

  3. Some hedge funds strong start in 2017 nice contrast to 2016[more]

    With the 2016 HSBC Hedge Weekly performance rankings in the books - a year in which the same leader-board entries pretty much dominated unchallenged throughout the year - comes a new leader board that is a hard-scrabble mix of hedge fund styles and categories. What is clear after but a few short wee

  4. Macro hedge funds and CTAs outperform in December on strong dollar[more]

    Komfie Manalo, Opalesque Asia: The last month of 2016 saw risk assets climbing higher, as part of expectations that the new U.S. administration will remove barriers to growth and investment, Lyxor Asset Management said. December also saw the Fed hik

  5. Opalesque Exclusive: Roxbury credit events UCITS gathers more assets[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The Roxbury Credit Events Fund, launched in September 2015, was up 4.24% in 2016, having returned seven positive months during the year. The managers raised