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BLACKROCK (BLK)
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BlackRock, Inc. : BlackRock, China SWF to launch China-focused fund

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04/26/2012 | 04:40am CEST

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)

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Financials ($)
Sales 2017 12 062 M
EBIT 2017 5 099 M
Net income 2017 3 526 M
Debt 2017 -
Yield 2017 2,34%
P/E ratio 2017 19,75
P/E ratio 2018 17,32
Capi. / Sales 2017 5,72x
Capi. / Sales 2018 5,17x
Capitalization 68 939 M
Chart BLACKROCK
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BlackRock Technical Analysis Chart | BLK | US09247X1019 | 4-Traders
Technical analysis trends BLACKROCK
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 469 $
Spread / Average Target 9,5%
EPS Revisions
Managers
NameTitle
Laurence Douglas Fink Chairman & Chief Executive Officer
Robert Steven Kapito President & Non-Independent Director
Robert L. Goldstein Chief Operating Officer & Senior Managing Director
Gary S. Shedlin Chief Financial Officer & Senior Managing Director
Derek N. Stein Global Head-Business Operations & Technology
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