Friday, 1 August 2014
Last updated 25 min ago
Jun 4 2012 | 2:10pm ET
It would seem that money management prowess does not necessarily run in the Fink family.
BlackRock chief Laurence Fink's son, Joshua Fink, launched Enso Capital Management in 2008. And while the once-$700 million fund has had its successes—it returned 25% in the first nine months of 2010—they have been overwhelmed by subsequent failures.
Enso's Global Fund lost 60.5% last year, the New York Post reports. And Fink fils has been unable to staunch the bleeding this year, losing a further 7% through April.
New York-based Enso, which boasts Fink's father and another BlackRock board member on its own board, has seen its assets dwindle to just $44 million. Laurence Fink and James Grosfeld, the other BlackRock director, accounted for some 15% of the fund's assets at its inception.