BlackRock dips 1.5% after investor day covers tech, ETF industry topics
Seeking Alpha
Published Jun 05, 2018 12:38PM ET
BlackRock dips 1.5% after investor day covers tech, ETF industry topics
- BlackRock (NYSE:BLK) dips 1.5% during its investor day; about 10% off its its 52-week high of $594.52 on Jan. 23. Management covered a lot of ground. Here are some highlights of the investor day slides.
- Use of technology: COO Rob Goldstein says opening its Aladdin platform enables clients to build their own applications and will lead to greater innovation.
- On Asia-Pacific: Geraldine Buckingham, global head of corporate strategy, says the region's industry AUM is seen rising at 10.5% compounded annual growth rate from 2017 to 2021 vs 5.2% globally.
- ETF market growth: ETF market set to double again by 2023, driven by ETFs, driven by alpha tools, all-to-all networked trading, fee-based wealth management, value for money, says Mark Wiedman, global head of iShares and index investments. Three scenarios see ETF AUM growth ranging from 10% to 20%.
- U.S corporate bond index futures based on iShares ETF will be coming soon, Wiedman says
- BLK financial progress: While effective fee rate has declined to 19.1 bps last year from 22.1 bps in 2012, organic base fee growth remains strong--to 7% in 2017 from 5% in 2013, says CFO Gary Shedlin; adjusted operating margin increased to 44.1% in 2017 from 40.4% in 2012.
- Previously: ETF price wars: BlackRock slashes more fees (June 5)
- ETFs: TETF, YLDE, QUAL, SUSA, KLD, EEM
- Now read: Emerging Markets Are Likely To Rebound In The Near Term
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