BlackRock at $6 Trillion; Fink Positive on Effect of Tax Law
- Clients will have more cash flow to put money to work, he says
- Firm reports $367 billion in net inflows, best in its history
BlackRock's Fink Calls for CEO Clarity on Tax Cut Money
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BlackRock Inc. crossed the $6 trillion asset mark and is already seeing benefits from the new U.S. tax law.
The world’s largest asset manager hit $6.3 trillion in the fourth quarter and said net income was bolstered by $1.2 billion related to the tax legislation as well as flows into exchange-traded funds last year. The New York-based company’s Chief Executive Officer Laurence D. Fink said in a statement Friday that BlackRock had the strongest net flows in its history last year -- $367 billion.