BlackRock Beats Estimates, Nears $8.7 Trillion in Assets Under Management

Kimberly Redmond | |

BlackRock, the world’s largest money management firm, reported a stronger-than-expected fourth quarter, closing out 2020 with double-digit increases in both earnings and revenue.

According to its fourth quarter earnings report released Thursday, the investment company posted a net profit of $1.5 billion, up from $1.3 billion, and revenue of $4.5 billion, an increase of 13%, during the final three months of 2020.

On a per share basis, fourth qu...

Big Bets on Technology and Cryptocurrencies Fuel Top Funds in 2020

Reuters | |

Outsized bets on large U.S. technology companies and emerging cryptocurrencies fueled the year’s top-performing U.S. mutual fund and exchange-traded funds as the coronavirus pandemic upended global markets, while funds that bet on oil and gas companies fell nearly 100%, according to data from fund-tracker Morningstar.

The year was a challenge like few others for the $21.3 trillion mutual fund and $4.4 trillion ETF industry. U.S. stocks plunged in March before staging a more than 60% comeback, while bond yields hung near record lows for much of the year after unprecedented moves by the Federal Reserve to backstop the financial markets and keep interest rates low.

$1.7 Billion Flows Into Healthcare ETFs in First Half of November After Three Months of Outflows

Reuters | |

U.S. healthcare exchange traded funds (ETFs) have led inflows in November, bolstered by the progress in development of coronavirus vaccines.

Data from Morningstar showed U.S. healthcare ETFs have lured $1.7 billion in the first two weeks of this month after witnessing outflows in the past three months.

The news that Pfizer and German partner BioNTech SE's experimental COVID-19 vaccine was more than 90% effective based on initial trial results lifted healthcare stocks last week.

Increasing COVID-19 cases and proposals for new lockdowns in the United States, however, have tempered some market optimism and prompted investors to look for safer stocks.

BlackRock Beats Estimates; Assets Under Management Exceed $7.8 Trillion

Reuters | |

By Saqib Iqbal Ahmed

NEW YORK (Reuters) - BlackRock Inc's quarterly results exceeded analysts' estimates on Tuesday helped by broad-based strength in its businesses, as the recovery rally in global financial markets helped world's largest asset manager end the quarter with a record $7.81 trillion in assets under management.

"Each of our strategic investment areas, including iShares ETFs, alternatives and technology, continue to grow, while strong investment performance has...

$17.6 Billion Flowed Into Growth Funds in May At the Expense of Value Funds

Reuters | |

(Reuters) - U.S. investors have ramped up investments in growth funds over the past few months on expectations of higher returns and safety, while they dumped value funds despite cheaper prices after this year’s pandemic-linked selloff. Data from Lipper showed U.S.-growth funds attracted $17.6 billion in April and May, while value funds witnessed outflows worth $16.9 billion. “A strong argument for the growth side is that the largest companies li...

Sustainable Equity Funds Outperforming Conventional Funds During Pandemic

Ben Hernandez | |

For millennials who didn’t understand the economic ramifications of the financial crisis over a decade ago, they’re now realizing how a crisis like the coronavirus pandemic can upend the economy quickly. Nonetheless, it’s opening up investment opportunities that are catering to millennials like environmental, social and governance (ESG). “The escalating coronavirus pandemic has ushered in a new era of stock market volatility, as investors come to terms with consecutive history-making da...

BlackRock Profit Drops 23%; Assets Fall As Investors Pull Money

Reuters | |

(Reuters) - The world’s biggest asset manager BlackRock Inc saw the capital it manages fall by almost $1 trillion in the first quarter as investors pulled money out of its marquee funds amid the most damaging stock market selloff in more than a decade. The company, a huge figure on global financial markets, reported a 23% drop in quarterly profit on Thursday, as investors preferred cash management services, while costs rose. The company ended the first quarter with $6.47 trillion in assets u...

This Fund Targets Superior Cash Flows and Lower Valuations

David Trainer | |

This week we feature a fund that successfully executes a superior stock-picking methodology.

Invesco Launches ETF To Track S&P 500 ESG Index

Edward Kim | |

The new fund is listed on the London Stock Exchange with a total expense ratio of 0.09%.

This Fund’s Process Isn’t As Advertised

David Trainer | |

Despite its 4 and 5-Star Morningstar rating (depending upon share class), this fund is one of the worst rated funds in our 7,000 ETF and mutual fund coverage universe.

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