Sat, Apr 25, 2015
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. U.S. does not want hedge funds to invest in offshore re-insurers for tax purposes[more]

    Komfie Manalo, Opalesque Asia: The U.S. Treasury Department on Thursday introduced a new rule aimed at limiting hedge funds’ ability to reduce their tax bills by investing in insurance companies in offshore tax havens. As a general rule, the U.S. tax laws does not allow hedge funds to use off

  2. Ruling: Hedge funds suing Argentina can have access to bond offering details[more]

    Komfie Manalo, Opalesque Asia: U.S. District Judge Thomas Griesa in Manhattan ruled yesterday that hedge funds are entitled to details of a recent bond offering by Buenos Aires, reports

  3. Hedge funds looking to continue their rally in Q2[more]

    Komfie Manalo, Opalesque Asia: Hedge funds finished the first quarter on a strong note and are looking to continue the rally in the second quarter, said Lyxor Asset Management in its Weekly Brief. The Lyxor Hedge Fund Index is up 0.4% over the week

  4. Hedge funds down -0.17% in March (+1.23%YTD)[more]

    Bailey McCann, Opalesque New York: The hedge fund industry produced an aggregate return of –0.17% in March to end Q1 2015 up 1.23%, compared to the S&P 500 which increased 0.96%, according to the latest data from eVestment. Hedge fund performance returns were mixed in March amid increased equity

  5. Fund managers express concern of overvaluation in both equity and bond markets[more]

    Komfie Manalo, Opalesque Asia: According to the BofA Merrill Lynch Fund Manager Survey, investors see growing overvaluations in both

 

banner