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BlackRock, Inc. (NYSE: BLK) is a leading American multinational investment management corporation based in New York City. Established in 1988, BlackRock initially focused on enterprise risk management and fixed income institutional asset management. Today, it stands as the world’s largest asset manager, boasting an impressive $10.473 trillion in assets under management (AUM) as of March 2024.
BlackRock's product portfolio is diverse, with 54% of managed assets in equity strategies, 27% in fixed income, 9% in multi-asset classes, 7% in money market funds, and 3% in alternative investments. The company’s passive strategies constitute around two-thirds of its long-term AUM, with its ETF platform holding a leading share in both domestic and global markets.
The firm primarily serves institutional clients, which account for approximately 80% of its AUM. Geographically, BlackRock is well-diversified, catering to clients in more than 100 countries, with over one-third of its managed assets coming from outside the United States and Canada.
One of BlackRock’s notable recent achievements includes leading a $47 million funding round for Securitize, a pioneer in tokenizing real-world assets using blockchain technology. This strategic investment underscores BlackRock’s commitment to driving innovation in digitizing capital markets. BlackRock’s Global Head of Strategic Ecosystem Partnerships, Joseph Chalom, has joined Securitize's Board of Directors, further solidifying this partnership.
Additionally, BlackRock has launched its first tokenized fund on Ethereum, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL). This fund allows investors to earn yield by holding tokens on the blockchain, with investments in cash, U.S. Treasury bills, and repurchase agreements. Investors can transfer their tokens at any time to other pre-approved investors, promoting liquidity and flexibility.
BlackRock continues to enhance its digital assets strategy and remains committed to meeting future client needs through innovative solutions. As the company ventures further into blockchain technology and tokenization, it aims to stay at the forefront of transforming the financial landscape.
BlackRock Corporate High Yield Fund (NYSE: HYT) announced a rights offering, allowing shareholders as of September 20, 2022, to purchase additional shares at a discount. The Fund's Board approved this move to increase assets for investment opportunities, aiming to benefit shareholders through current income and potential capital appreciation. The Offer includes opportunities in the high yield market, enhanced liquidity, and reduced expense ratios, with the Advisor covering all Offer expenses. The subscription price will be determined on the expiration date of the Offer, expected October 13, 2022.
The Board of Directors of BlackRock Corporate High Yield Fund, Inc. (HYT) declared an early monthly distribution for October 2022 of $0.077900 per share. Shares purchased after October 3, 2022, will not receive this distribution. Key dates noted are: Declaration on 9/8/2022, Ex-Date on 10/4/2022, Record Date on 10/5/2022, and Payable Date on 10/31/2022. The Fund follows a managed distribution plan, aiming to distribute all available income while adhering to IRS regulations.
In uncertain markets, endowments, foundations, and healthcare investors are increasing private equity allocations.
53% of non-profit institutional investors are raising allocations to private equity to seek returns amid volatile markets. Key risks identified include inflation and rising interest rates, with interests shifting towards real estate, public equities, and natural resources. Despite concerns over potential losses, nearly half of investors are focused on generating unique returns, with over 75% favoring private equity. The survey indicates growing adoption of ESG standards in investment practices.
BlackRock has launched the BlackRock Future Financial and Technology ETF (NYSE Arca: BPAY), enhancing its Megatrends platform. The actively managed fund focuses on firms driving innovation in financial services, with a specific aim of maximizing total returns. Lead Portfolio Manager Vasco Moreno noted a 30% increase in fintech usage during the pandemic in the U.S. BPAY is the sixth active ETF in BlackRock's U.S. Megatrends platform, boasting a 0.70% expense ratio. BlackRock manages over $50 billion in AUM across 44 thematic products.
BlackRock's iShares MSCI Russia ETF (ERUS) announced the suspension of share redemption rights effective
BlackRock has launched its first Model Portfolios for Women, addressing unique factors affecting women's investing success: life expectancy, income gaps, and employment gaps. Women in the U.S. outlive men by over five years and earn approximately $0.82 for every $1 earned by men, with larger gaps for Black and Latina women. These portfolios aim to enhance equity allocation across women's long investment horizons. This initiative reflects BlackRock’s commitment to advancing gender equity and supports women in achieving better long-term financial outcomes.
According to BlackRock’s latest retirement survey, 37% of Americans feel unprepared for retirement, a notable increase attributed to inflation and market volatility. Confidence among workplace savers has declined from 68% in 2021 to 51%. Inflation raises concerns for 87% of these savers, with 64% fearing their savings won't last a lifetime. However, Gen Z stands out, saving an average of 14% of their earnings, the highest among generations. The survey reveals a growing interest in guaranteed income options, with 87% of workplace savers willing to invest for regular payments.
BlackRock and QLS Advisors have partnered to create data-driven investment solutions aimed at accelerating biomedical innovation. By leveraging BlackRock's investment platform and QLS's advanced technologies for evaluating clinical trial success, this collaboration aims to direct funding to promising therapeutic developments in public and private companies. With a Scientific Advisory Council of industry leaders, the initiative seeks to improve capital allocation in healthcare while generating attractive returns for clients.
BlackRock, Inc. (NYSE: BLK) reported its financial results for the second quarter of 2022. The earnings release and supplemental materials are accessible online. A teleconference will be held on July 15, 2022, at 8:30 a.m. ET, hosted by key executives including CEO Laurence D. Fink. Replay options for the call will be available until July 29, 2022. BlackRock, a leading financial technology provider, continues to focus on enhancing financial well-being for its investors.
BlackRock, Inc. (NYSE:BLK) has declared a quarterly cash dividend of $4.88 per share, set to be paid on September 23, 2022. Shareholders of record as of September 7, 2022 will be eligible for this dividend. This decision underscores BlackRock's commitment to returning capital to its shareholders while enhancing financial well-being through investment opportunities. The firm continues to position itself as a leading provider of financial technology to facilitate affordable investing.
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