The U.S. Federal Reserve’s attempt to rein in inflation by raising interest rates might end up pushing the country into a recession, BlackRock, the world’s largest asset manager, recently warned in a note. “The Fed’s hawkish pivot has raised the risk that markets see rates staying in restrictive territory,” the note said, according to Fox…
Global Bond ETF Industry to Triple to $5 Trillion by 2030: BlackRock
LONDON—Assets under management held by global fixed income exchange traded funds are expected to triple to $5 trillion by 2030, according to the world’s largest asset manager, BlackRock. BlackRock said it believes the global bond ETF industry is poised to reach $2 trillion in 2023, despite currently “challenging macroeconomic conditions”. Bonds have come under pressure…
Australia’s Competition Watchdog Needs Power to Stop Mega Funds Expanding Industry Control: Report
April 11, 2022
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Australia’s competition watchdog should receive new powers to stop any potential merger that could see “mega-funds” like U.S. giants BlackRock, Vanguard, and State Street widen control over an industry, according to a parliamentary committee. On April 11, the Standing Committee on Economics in Australia tabled its report examining the influence of the mega-funds, which also…
Here’s Why Verizon, BlackRock Collaborated
Verizon Communications Inc. looks to build a private 5G network for BlackRock Inc. at its new Hudson Yards headquarters, juicing up rivalry with AT&T Inc. and T-Mobile US Inc.. Verizon said that the new 5G wireless technology could replace Wi-Fi and give BlackRock the ability to use applications like virtual reality and edge computing that require nearly instantaneous network response…
For BlackRock, ‘Stakeholder Capitalism’ Should Reject Partisan Rent Seeking and China Subservience
Commentary I was amused to read the Annual Letter to CEOs from BlackRock’s Larry Fink, his yearly missive to companies in which the investment manager has a stake. Fink seems to marvel that “It’s been two years since I wrote that climate risk is investment risk. And in that short period, we have seen a…
BlackRock Letter to CEOs Shows Politics Takes Priority Over Bettering Human Lives
Commentary With increasing attention being paid to the negative consequences of so-called environmental, social, and governance (ESG) investing—which means selecting clients’ investments based on political rather than financial criteria—many hoped BlackRock’s annual letter to CEOs would signal a shift away from activism and back toward fiduciary responsibility. Sadly, chairman and CEO Larry Fink’s letter offered…
Assets in IShares ESG Fund Drop 91 Percent After Biggest Investor Reduces Ownership
The iShares ESG MSCI EM Leaders ETF suffered heavy outflows this week, according to public data, leading to a tenfold drop in the assets managed by the exchange-traded fund focused on sustainable emerging-market companies. Finland’s Ilmarinen Mutual Pension Insurance Company owned 13 million shares in the ETF in September, making it the No.1 investor in…
BlackRock Wants Companies to Hire More Diverse Board Members, Strive Toward Net Zero Climate Goal
December 18, 2021
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BlackRock wants more diversity in company executive boards and is pushing portfolio companies to strive toward net-zero climate goals, according to a 2022 policy update released on Tuesday, even as the world’s biggest asset manager remains firmly invested in fossil fuels. “We have engaged companies on board diversity for many years. That engagement informs our…
Consumers’ Research Warns US Governors About BlackRock’s Retirement Fund Investments in China
December 4, 2021
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Consumers’ Research, the nation’s oldest consumer advocacy organization, sent a Dec. 2 letter (pdf) to ten U.S. governors warning them about the reliance of their states’ pension funds on BlackRock’s strong ties to China. BlackRock, under its CEO Larry Fink, is the first foreign-owned company to receive a license to operate in China’s $3.5 trillion mutual fund…
What China Invading Taiwan Would Mean to the US & World; Is BlackRock Selling Out America?
November 13, 2021
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“What we’ve seen is a forced modernization commitment and effort over the past 25 years on the part of the Chinese, and as their country has gotten wealthier, they’ve had more resources to invest in a military,” says U.S.–Taiwan Business Council President Rupert Hammond-Chambers. He believes that the Chinese Communist Party (CCP) is “one hundred…
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