Can BlackRock Reach $5 Trillion in 2016?
BlackRock Inc., the world’s largest asset manager, rivaling the size of the largest sovereign wealth funds, had US$ 4.645 trillion in assets under management (AUM) as of December 31, 2015. The company’s more conservative measure of long-term AUM is US$ 4.335 trillion. BlackRock will have challenges reaching US$ 5 trillion, as equity markets continue to fall in many markets across the globe. The asset management giant led by its CEO Laurence Fink experienced inflows from the Americas region, while outflows from Europe, the Middle East and Africa (EMEA). Did Gulf sovereign wealth funds have something to do with this? BlackRock’s official institutions group, which targets entities like sovereign funds, central banks and government ministries, in 2014 managed US$ 228.8 billion. Backing BlackRock are large institutional investors, such as Norway’s sovereign wealth fund being the second largest shareholder behind PNC Bank. The wealth fund as of 2014, hold around 7% of BlackRock’s shares.
Fink informed CNBC on its show Squawk Box on January 15th, that there’s “not enough blood in the street,” – meaning listed equity markets could go further down. Fink also stated on CNBC, “I actually believe you’re going to start to see more layoffs in the middle part of the first quarter and definitely in the second quarter…if we don’t see some swift rebound.”
BlackRock’s Flow Data
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