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Friday, October 19, 2012

BlackRock's Q3 Catches More Ink

News summary by MFWire's editors

BlackRock's [profile] strong third quarter earnings and its price competition with Vanguard are attracting media attention.

The New York City-based mutual fund and ETF shop released its Q3 earnings Wednesday. The world's largest asset manager soundly beat analysts' expectations, thanks in part to $25.2 billion in net iShares [profile] inflows. Bloomberg and the New York Times both covered the results. The Times in particular highlighted the success of iShares last quarter.

Also, as noted yesterday by MFWire, BlackRock CEO Larry Fink used his Q3 earnings call to attack the idea of the so-called ETF fee war between his iShares unit and rivals like Vanguard and Schwab. MFWire linked to multiple articles on Fink's remarks, from the likes of the Financial Times, Reuters and the Wall Street Journal

Edited by: Neil Anderson, Managing Editor

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