Friday, 29 August 2014
Last updated 14 hours ago
Jul 18 2013 | 9:39am ET
BlackRock, the world's largest money manager, saw its profits rise 32% year on year in Q2, thanks, in part, to strong demand for its retail alternative products.
The firm netted $729 million or $4.19 per share in Q2, compared to $554 million and $3.08 per share in Q2 2012.
Earnings per share, excluding a one-time tax benefit from a charitable contribution, were $4.15.
According to BlackRock chair and CEO Laurence D. Fink, the results were driven “by global demand from retail and institutional clients for multi-asset class, unconstrained fixed income and retail alternative products. Our strong product capabilities in the retail alternative mutual fund space, coupled with our broad distribution platform, uniquely position us in this high growth segment, where second quarter net flows of $1.1 billion drove sequential quarter AUM growth of 72%.”
Adjusted operating income was up 18% year on year and the firm generated record base fees of $2.2 billion and $11.9 billion in long-dated net new business across a range of products, including 11 funds that each raised $1 billion.
The company ended the quarter with assets under management of $3.9 trillion.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...