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Thursday, October 04, 2012

Enter Phase Three of Fink's Plan

News summary by MFWire's editors

As Larry Fink continues to tout the strength of the U.S. economy, BlackRock [profile] is taking its advertising to the next level. Alexis Leondis of Bloomberg reports that yesterday the world's largest asset manager kicked off "the third phase of a five-year branding campaign."

The new series of ads echoes Fink's own regular public comments [see here and here], urging savers to move into equities and out of cash and low-yield fixed income. The ads top-performing BlackRock offerings like the $891-million BlackRock Multi-Asset Income Fund and the $24-billion BlackRock Equity Dividend Fund.

As part of the five-year plan, BlackRock's first ads debuted back in February. Fink also talked about the branding campaign back in April.

Meanwhile, in an interview with the wire service, Fink again sounded a positive note on the country's economic prospects.

"When you talk about macro issues in the U.S., our banking system is far better than most banking systems and our housing crisis is 90 percent behind us," the BlackRock founder and CEO told Bloomberg, adding that a stronger economy is just a year away. "We're in a world of moments of euphoria and moments of despair. It's very hard for anyone to get out of the bunker and do anything more proactively."

Chris Leavy, chief investment officer for U.S. fundamental equity, added that his team thinks equities are "priced to return 9 percent to 10 percent a year." 

Edited by: Neil Anderson, Managing Editor

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