BlackRock, an investment management arm of PNC Bank, and Rothschild Australia Asset Management Limited (RAAM) are joining forces to offer global fixed income investment management services to institutional and individual investors in Australia. The pair will offer balanced funds, bond funds, and separate accounts.

Laurence D. Fink, chairman and ceo of BlackRock, explained that the alliance is a response to the growing demand for global fixed income products in Australia. It follows a similar alliance with Nomura Asset Management in Japan and is part of BlackRock's strategy to partner with local distributors. 

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