Saturday, January 13, 2018

Too Big To Fail -- January 13, 2018

Two links:

Blackrock:
  • net inflows for the year (2017) $367 billion; sets a new record
  • $1 billion of new client cash every day
  • passed $6 trillion in assets for the first time
  • up more than $1 trillion from the end of 2016
  • most new cash (67%) went to it iShares ETFs -- low-cost products tied to indexes
  • iShares finished 2017 with more assets than BlackRock's actively managed products for the first time
  • pace of new investor cash puts BlackRock in same league as rival Vanguard Group
  • Vanguard Group
  • $369.3 billion in new money last year (2017)
  • ended 2017 with $4.9 trillion
  • everyone else "fighting for scraps"
  • Vanguard and BlackRock together: $11.2 trillion -- higher than the GDP of China in 2016
  • BlackRock topped $5 trillion in assets at the end of 2016
  • BlackRock has a larger international business than Vanguard

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