BlackRock's active equity business is a work in progress, Blackrock
CEO Laurence Fink admitted to analysts at Bernstein Research.
Fink said it was "clear" the active equity business wasn't doing well, Citywire
reports. BlackRock has seen $20.5 billion in net outflows from its active equity portfolios in the 12-month period, MFWire reported
The CEO also noted that BlackRock has replaced
80 percent of the leadership of active equity management teams over the past two years. Fink worries that BlackRock could face risks in that area:
Analysts attending the talk said that Fink " noted that one of the biggest risks for BlackRock is that there could be a rotation back into active equities before the three-year track records are in place for products that have undergone a management change."
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