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Can BlackRock Reach $5 Trillion in 2016?

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BlackRock NY

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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SWFI First Read, September 19, 2018

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QIA Eyes Investment in Chinese Lender Lufax

The Qatar Investment Authority (QIA) is in talks about a possible investment into Shanghai-based Lufax, one of China’s largest online lenders. The seller of the possible stake is China’s Ping An Insurance (Group) Co. Ltd. Lufax’s official name is Shanghai Lujiazui International Financial Asset Exchange Co. Ltd.

Wealth Funds Back Hotpot Giant

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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