Bloomberg News

BlackRock Won’t Chase ‘Unattractive’ Business to Bolster Assets

October 17, 2012

BlackRock Inc. (BLK:US) Chief Executive Officer Laurence D. Fink said his firm won’t chase “unattractive” or low-fee business to bolster assets under management.

BlackRock said today in a statement announcing third- quarter earnings that a single institutional investor pulled more than $72 billion from a fixed-income portfolio, after the firm didn’t want to rebid for the business at lower fees.

To contact the editor responsible for this story: Sree Vidya Bhaktavatsalam at sbhaktavatsa@bloomberg.net


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Companies Mentioned

  • BLK
    (BlackRock Inc)
    • $324.76 USD
    • -3.56
    • -1.1%
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