The world’s largest asset manager has seen its assets under management drop by 11% in what chair and CEO Larry Fink described as an investment environment “not seen in decades” and “the worst start to the year for both stocks and bonds in half a century”.
BlackRock's AUM fell to $8.5trn in the second quarter of the year due to declining asset prices and a strengthening dollar, marking the company's second consecutive quarterly drop after topping $10trn at the end of 2021. "The first half of 2022 brought an investment environment that we have not seen in decades. Investors are simultaneously navigating high inflation, rising rates and the worst start to the year for both stocks and bonds in half a century, with global equity and fixed income indexes down 20% and 10%, respectively," said Fink. BlackRock AUM exceeds $10trn as ETFs and act...
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