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BlackRock operates as the world's largest asset management firm, managing trillions of dollars across diverse investment strategies and asset classes. The company serves institutional investors including pension funds, insurance companies, endowments, and sovereign wealth funds, as well as retail investors through various distribution channels. BlackRock's investment platform encompasses equity strategies, fixed income portfolios, alternative investments, and multi-asset solutions delivered through mutual funds, exchange-traded funds, and separate account mandates.
The firm's iShares brand represents the world's largest exchange-traded fund platform, offering over 1,500 ETF products spanning equity indices, fixed income benchmarks, commodity exposures, and thematic investment strategies. BlackRock also operates the Aladdin technology platform, which provides integrated portfolio management, risk analytics, and operational capabilities to financial institutions globally. Through BlackRock Solutions, the firm delivers advisory services addressing risk management, regulatory compliance, and investment strategy to governments, central banks, and financial institutions.
Investment capabilities span traditional active management where portfolio managers make discretionary security selections, as well as index strategies designed to track market benchmarks. The alternatives platform provides access to private equity, private credit, infrastructure, real estate, and other specialized investment opportunities. BlackRock's global presence includes operations across the Americas, Europe, Asia-Pacific, and emerging markets, supported by research teams, trading desks, and client service professionals operating from offices in 30 countries.
BlackRock's ninth annual Read on Retirement™ survey reveals increased optimism about retirement among Americans, with 68% feeling on track, up from 56% last year. However, significant concerns persist. Women are 30% less likely than men to feel on track. Despite 77% of Gen Z feeling on track, 69% worry about their savings lasting through retirement. Over 60% of respondents across all demographics still fear outliving their savings, consistent over the past three years. Baby Boomers express the need for more education on income strategies, while Millennials struggle with balancing short- and long-term savings, many carrying credit card debt. The survey underscores a need for better access to retirement planning tools and employer support, with 72% of employers concerned about their employees' retirement preparedness and 99% feeling responsible to help.
BlackRock (NYSE: BLK) will report its second quarter 2024 earnings on July 15, 2024, before the New York Stock Exchange opens. Chairman and CEO Laurence D. Fink, President Robert S. Kapito, and CFO Martin S. Small will host an investor and analyst teleconference at 7:30 a.m. ET. The earnings release and supplemental materials will be available on BlackRock's investor relations page prior to the call. Interested participants can dial in from the U.S. at (313) 209-4906 or internationally at (866) 400-0049, using the ID 8861191. A live listen-only webcast will also be accessible via the investor relations section of BlackRock's website, with a replay available by 10:30 a.m. ET on July 15, 2024.
BlackRock has introduced the iShares Large Cap Max Buffer Jun ETF (Cboe: MAXJ) as part of its new buffer ETF series. This ETF provides up to 100% downside protection while aiming to mirror the performance of the iShares Core S&P 500 ETF (IVV), with an upside cap. The MAXJ, noted for being the most affordable of its kind, launched today. BlackRock's buffer ETFs leverage options strategies to help investors navigate market volatility and stay invested through various market cycles. The series includes upcoming ETFs such as SMAX, DMAX, and MMAX, which will roll out quarterly over the next year. BlackRock now manages $25 billion in assets across over 40 active ETFs in the U.S.
BlackRock has agreed to acquire Preqin for £2.55 billion ($3.2 billion) in cash. This acquisition integrates Preqin's private markets data solutions with BlackRock’s Aladdin tech, enhancing their private markets capabilities. Preqin’s data tools will complement Aladdin’s workflow capabilities, creating a comprehensive private markets technology and data platform. The private markets segment is rapidly growing, with alternative assets expected to reach $40 trillion by the decade's end. Preqin's extensive data coverage includes 190,000 funds and 60,000 fund managers, expected to generate $240 million in highly recurring revenue in 2024. The acquisition is set to close by the end of 2024, pending regulatory approvals.
BlackRock (NYSE: BLK) has announced a strategic partnership with financial technology firm GeoWealth to offer custom models that integrate private markets, direct indexing, and fixed income SMAs alongside ETFs and mutual funds in a single account. This initiative aims to address the $37 trillion U.S. wealth market by simplifying access to various asset classes for advisors.
BlackRock's custom models business, which has generated $31 billion in new assets over the past four years, will be expanded through GeoWealth’s platform. This strategic move is expected to streamline and scale the integration of public and private markets, enhancing advisors' ability to create diversified, personalized, and tax-efficient portfolios.
GeoWealth's platform, with over $28 billion in assets and nearly 200 RIAs as of December 31, 2023, will enable the implementation of these custom models. The partnership aims to leverage BlackRock's portfolio design expertise and GeoWealth's technology to innovate and improve the advisor experience.
Neustark, a Switzerland-based carbon removal company, has raised $69 million in a funding round led by Decarbonization Partners, with participation from Blume Equity and existing investors including Siemens Financial Services and Holcim. The funding will support Neustark's mission to remove 1 million tons of CO2 by 2030 and expand its operations in Europe, North America, and Asia-Pacific. Neustark’s technology captures CO2 from biogas plants and binds it in mineral waste streams, creating carbonated, recycled aggregates for construction. The company operates 19 carbon capture plants and has 40 more under construction. This investment is one of the largest in the carbon removal sector, reinforcing Neustark's position as a leader in durable carbon removal solutions.
BlackRock launched two new ETFs: the BlackRock Long-Term U.S. Equity ETF (BELT) and the BlackRock High Yield ETF (BRHY). These ETFs are managed by BlackRock’s Strategic Equity and High Yield teams, respectively, and aim to provide liquidity, tax efficiency, and alpha. BELT focuses on long-term growth in U.S. equities, maintaining a concentrated portfolio of 20-25 positions. BRHY targets non-investment grade bonds with maturities of 10 years or less. With these launches, BlackRock now manages $25 billion across 40 active ETFs in the U.S. and has seen a significant increase in active ETF adoption.
BlackRock Canada, a subsidiary of BlackRock, announced final May 2024 cash distributions for its iShares Premium Money Market ETF. Unitholders recorded on May 23, 2024, will receive a cash distribution of $0.188 per unit, payable on May 31, 2024. This announcement pertains to the iShares Premium Money Market ETF with the ticker CM.R. Further details are available on the BlackRock website.
BlackRock (NYSE: BLK) has announced a quarterly cash dividend of $5.10 per share of its common stock.
The dividend is payable on June 24, 2024, to shareholders who are recorded as of the close of business on June 7, 2024.
BlackRock, Inc. (NYSE: BLK) has made a minority investment in Willow Network, Inc. to help financial advisors better serve new investors. Willow will launch two new certificate programs to address the financial challenges faced by women and younger investors, aiming to capitalize on the intergenerational wealth transfer. Advisors completing the programs will gain access to clients through Willow's platform. The partnership is focused on bringing financial well-being to a broader audience.
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