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Bonds Put It Well In The Black Fund Manager BlackRock Enjoying Boom In Assets.(THE IBD 100)(INSIDE THE 100)
Byline: David Saito-Chung
The year 2005 has been a banner one for investment managers -- especially the megasized ones. BlackRock can attest.
The firm, founded in 1998, reported $428 billion in total assets under management as of September. That's up 3% from the second quarter and up 32% from a year ago. Officials cite inflows in all asset classes and client channels.
The biggest chunk of that money -- $290 billion -- is in bonds. While they traditionally produce smaller capital gains than stocks, BlackRock has benefited from a wave of insurers and banks that have decided to let outside firms manage fixed-income portfolios.
BlackRock reported that two-thirds of its taxable bond fund assets ranked in the top two Lipper quartiles for the quarter, year-to-date, 1-, 3- and 5-year periods through Sept. 30.
Earnings growth has ...
- Gropius
- Reference information from: Webster's NewWorld Dictionary January 1, 1988 700+ words
Webster's NewWorld Dictionary 01-01-1988 Gro|pi|us (gro'pe s), Walter 1883-1969; U.S. architect, born in Germany: founder of the Bauhaus Copyright 1994, 1991, 1988 Simon & Schuster, Inc.
