BlackRock Inc. hauled in US$51 billion of client cash to its long-term investment funds in the second quarter, pushing the world’s largest money manager to a record $10.6 trillion of assets.
Tiffany Zhang, vice president of ETF research and strategy at National Bank Financial, joins BNN Bloomberg to discuss the latest ETF report numbers.
“Organic growth was driven by private markets, retail active fixed income, and surging flows into our ETFs, which had their best start to a year on record,” Chief Executive Officer Larry Fink said in the statement. That’s fueling flows of client cash into fixed-income funds, with asset managers pointing out the risks of staying too long in money-market funds that may no longer be able to offer five per cent yields once rates come down.
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