MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, June 24, 2013 BlackRock Trims The Fat By Cutting 250 Funds BlackRock[profile] is cutting the fat, 250 funds to be exact, in order to focus on the most lucrative funds, Financial Times reported. The top 50 percent of BlackRock's funds account for 99 percent of fund revenues, BlackRock's deputy COO told a group at BlackRock's annual investor day last week. This is the continuation of a trend that began last March when the fund manager cut 300 "redundancies." It has closed many of its Australian funds and plans to focus on cutting funds in Europe. BlackRock has 3,000 investment vehicles in total. To read the full story, click here. Printed from: MFWire.com/story.asp?s=44477 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |