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Thursday, October 16, 2014|
Fink Vs. That Unnamed West Coast Bond Fund Shop
Mr. Market predicted that BlackRock profile] would be a big beneficiary of the recent turmoil at rival bond fund manager Pimco [profile], and Larry Fink and his team are heeding that call.
Yesterday morning the BlackRock CEO and three of his top executives (co-president and vice chairman Rob Kapito, general counsel Matt Mallow, and chief financial officer Gary Shedlin) conducted their Q3 2014 earnings call with analysts [see the earnings transcript]. Kirsten Grind of the Wall Street Journal described Pimco as being the big topic of the nearly two-hour-long call.
Fink, the WSJ reports, time and again contrasted BlackRock (with its team-based approach) and Pimco (which is suffering after the departure of star bond fund PM Bill Gross), without specifically naming Pimco.
"The team-based approach is a critical differentiator for BlackRock," Fink said on the call. "We do not and never had a centralized CIO. We do not have a house view or any one person setting a single investment platform."
Printed from: MFWire.com/story.asp?s=49939
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