Thursday, 30 October 2014
Last updated 2 min ago
Jan 25 2011 | 1:40pm ET
Strong performances from its hedge funds helped BlackRock beat analysts' expectations in the fourth quarter.
The world's largest asset manager with $3.6 trillion in assets earned $670 million in the last three months of the year, up 77% from the year-earlier period's $379 million and more than 50 cents per share better than analyst estimates. Revenue rose 61% to $2.49 billion.
The strong quarter was driven in part by the New York-based firm's hedge funds. Good results for some more than doubled BlackRock's high-margin performance fee revenue, which rose to $326 million from $125 million.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.