Member access

4-Traders Homepage  >  Shares  >  Nyse  >  BlackRock, Inc.    BLK   US09247X1019

BLACKROCK, INC. (BLK)

36
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

BlackRock, Inc. : BlackRock, China SWF to launch China-focused fund

04/25/2012 | 10:40pm US/Eastern

BlackRock Inc, the world's biggest asset manager will join hands with China's sovereign wealth fund CIC to launch a China-focused investment fund likely to be worth several billion U.S. dollars, the Financial Times quoted a senior CIC official as saying.

Bank of America Merrill Lynch's China Chairman Liu Erfei will leave the bank to run the fund, the FT said, citing unidentified sources.

The move is a sign of BlackRock's growing footprint in Asia, where the asset manager has only a small presence outside of Japan, it said.

A spokesman for BlackRock in Hong Kong declined to comment while representatives for China's sovereign wealth fund, China Investment Corp <CIC.UL> were not immediately available to comment.

CIC, which managed $410 billion at the end of 2010, has obtained an additional $50 billion from China's central bank, sources told Reuters in February. It was set up in 2007 with a mandate to diversify part of China's foreign currency reserves into riskier overseas assets for higher returns.

(Reporting by Samuel Shen; Editing by Edwina Gibbs)

React to this article
Latest news on BLACKROCK, INC.
08:02a DGAP-PVR : E.ON SE: Release according to Article 26, Section 1 of the WpHG
04/17DJBlackRock CEO Laurence Fink's 2014 Pay $23.9 Million --Update
04/17DJBlackRock CEO Paid $23.9 Million in 2014
04/17DJLAURENCE FINK : BlackRock CEO Laurence Fink Paid $23.9 Million in 2014
04/17 DGAP-PVR : BASF SE: Release according to Article 26, Section 1 of the WpHG
04/17 BLACKROCK : ...while BlackRock benefits from inflows
04/16 BLACKROCK : BLK) is Trading Lower on Unusual Volume for April 16
04/16DJLAURENCE FINK : BlackRock's Laurence Fink Sounds Warning on Risk -- 5th Update
04/16DJBlackRock Profit Pops on Inflows, Forex Hits Top Line -- 4th Update
04/16DJMARKET SNAPSHOT : U.S. Stocks Wrestle With Mixed Economic Data, Upbeat Earnings
Advertisement
Chart
Duration : Period :
BlackRock, Inc. Technical Analysis Chart | BLK | US09247X1019 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF