Business

BlackRock will be the first public fund manager to oversee $ 10tn

BlackRock became the first public fund manager to oversee $ 10 trillion in assets as U.S. financial giant reported bumper profits


BlackRock became the first public fund manager to oversee $ 10 trillion in assets as a US financial giant reported bumper profits.

According to the Newyork-based group, wealth increased 15% in 2021 to £ 732 billion, just over $ 10 trillion.

Boom: BlackRock said assets will grow 15% in 2021 to just over £ 732 billion, or $ 10 trillion.

The group, led by Larry Fink, said it benefited from the trading boom as people invested in funds and passive vehicles that track the wider stock market.

BlackRock figures were obtained when JP Morgan exceeded Wall Street’s expectations and reported a record annual profit of £ 35 billion despite a slowdown in the trading sector.

Last year, we benefited from a surge in transactions around the world.

advertisement

BlackRock will be the first public fund manager to oversee $ 10tn

Source link BlackRock will be the first public fund manager to oversee $ 10tn

Back to top button