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BlackRock now has $ 8.7 trillion after the booming iShares ETF.



Black stone (BLK)The world’s largest money management company closed this year with total assets of nearly $ 8.7 trillion, up 17 percent from a year ago.

Approximately $ 2.7 trillion of BlackRock’s assets under management are in the company’s iShares ETF, up 19 percent from the end of 2019.Investors poured nearly $ 79 billion in new money into iShares funds in the fourth quarter alone.

BlackRock outperformed other big financial stocks in 2020, a year of turmoil and volatility due to the global COVID-1
9 crisis and resulted in a recession. Many big banks see their profits affected by lower interest rates and lower credit requirements.
BlackRock’s shares are up nearly 50% in the past 12 months, while SPDR Financial Sector Selection Fund (XLF)ETFs that held most of America’s top banks were up just 1 percent.BlackRock shares were down more than 2 percent on Thursday, despite strong earnings.
“The world faces unprecedented challenges in 2020, many of which continue today. BlackRock remains steadfast in meeting the needs of all our stakeholders,” said Larry Fink, CEO of BlackRock said in a earnings press release.

Fink added during a conference call with investors and analysts on Thursday: “The difficulties facing people around the world in 2020 and the worsening inequality from the epidemic have only made BlackRock feel more economical to make saving easier and more economical.”

He stressed that the company will continue to promote sustainable investment trends that are key to the economy and expressed hope that the economic recovery will eventually lead to a more resilient economy in the future.

BlackRock and the $ 15 trillion fund industry should be broken down, antitrust groups said.

“The pandemic has had a tremendous impact on all of our lives, disrupting the way we work and how we live, while leading to profound changes in the economy and the way society operates, creating opportunities for our communities to work. Redesign our society He added during a conference call.

Fink said concerns about rising economic inequality, along with low interest rates and rising inflation expectations, need to be a big picture model for investors saving for retirement or goals. Other long-term

However, he made no mention of the changing political or regulatory landscape during the calls. There is no mention of the fact that Joe Biden is about to take over as president and that Democrats are going to control both the House and the Senate.

But Fink sounded an idea about the future, arguing that even as long-term bond yields began to rise. “Equity demand will persist,” and higher returns will drive higher yields. “The banking system is much stronger,” he said. “Positive signs for the economy”

He concluded the conference call with a public safety message: “Everyone, please be safe, everyone please stay healthy, and everyone please get vaccinated. Thank you.”


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