Bloomberg News

BlackRock Trimmed Emerging-Market Holdings on Fed Taper Concern

June 06, 2013

BlackRock Inc. (BLK:US), the world’s biggest money manager, said it reduced emerging-market positions, citing concern a reduction in bond buying, or quantitative easing, by the Federal Reserve may curb support for the assets.

“We had very little exposure to local emerging-market bonds but have trimmed our external emerging-market positions recently to reduce the levels of risk from this sector,” Scott Thiel, deputy chief investment officer of fundamental fixed-income in London, said today in an e-mailed statement.

“Sustained accommodative U.S. monetary policy has benefited these markets and the potential reduction in QE could reduce that liquidity and source of support,” Thiel said.

To contact the reporter on this story: Mark McCord in London at mmccord2@bloomberg.net

To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net


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Companies Mentioned

  • BLK
    (BlackRock Inc)
    • $314.82 USD
    • 0.28
    • 0.09%
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