The stock market boom has created an insatiable appetite for exchange-traded funds, which makes it easier for traders to invest in many of the world’s top companies at once.
This is great news for BlackRock, the world’s largest capital manager.
BlackRock, owner of the popular iShares family of ETFs, announced on Friday that it ended the year with more than $10 trillion in assets under management. This represents a 15% increase from 2020 levels.
Nearly a third of that $10 trillion total was invested in ETFs, many of which are passive funds from the iShares family that track popular indices like the S&P 500 (IVV) and Russell 2000 (IWM), as well as various sector funds.
However, BlackRock shares, which also reported earnings that beat forecasts, were down 3% on Friday.
CEO Larry Fink recognized the ongoing challenges for the global economy and financial markets.
Rising inflation is eating into consumer paychecks. The Federal Reserve and other central banks around the world are expected to cut rates to tame rising prices. But overly aggressive rate hikes could slow the economy.
And the Omicron variant of Covid-19 could harm economic activity.
As Fink noted, “the world continues to navigate uncertainty and profound changes in economies and societies at large.”
This content was originally created in English.
original version
Reference: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
