2023-10-13 12:28:00
Published on Oct 13, 2023 at 2:28 p.m. Updated on Oct 13, 2023 at 3:38 p.m.
Asset management giant BlackRock has published mixed results for its third quarter. The main disappointment is that long-term funds, whether traditional investment funds or exchange-traded funds (ETFs), suffered an outflow of $13 billion. The world leader in management had not suffered such a setback since the start of the pandemic in 2002. The consensus of Bloomberg analysts expected long-term net inflows of $50 billion.
“For the first time in almost two decades, clients are getting real returns on cash and can wait for more monetary and market stability before returning to risky products,” said Larry Fink, CEO of BlackRock. . Treasury funds, for their part, benefited from $15 billion in new money.
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