BlackRock reports disappointing third quarter US ETF inflows but strong gains overall, despite a slowdown in activity in August and September.
It had US$10.8bn of net new business in its iShares ETF last quarter; $6.5bn of the inflows came from EMEA, $4.6bn from the Americas. "We are not happy with our US results and we are addressing it," said Laurence D. Fink, chairman and CEO of BlackRock, while presenting the results. He noted the recent appointment of Mark Weidman as global head of iShares and said that it is building its management team. "We believe we will once again re-assert our market share in the United States," he said. Its European performance was strong, however: "we are as well positioned in Europe as we e...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
