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Bank Results Season: Blackrock gets it

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With deals in the mid market space in India/China and in the USA(Smurfit) the Fink’s Rock has been steadily floating the high seas as the “$3.6T behemoth” now has the bark and the bite, Q4 getting it inflows of $23.9 billion, $14 billion in iShares and continuing withdrawals of $39billion which per Reuters is from single silo risk fears of people who had 20% in each iShares and Blackrock funds pre merger (reuters analysis is getting better each day the results capsule on BLK made me skip my fave MW there for a bit)

Earnings for the King of Kings was up 77% from $378mn to $670 mn this quarter. The withdrawals should likely b behind them now with 2010 showing up 6% in AUM to $3.56 T, most of it in the fourth quarter. Its performance in the Public Private Investment Program was creditable at 35.7% (Marketwatch) outperforming against an average from the eight Fund Managers chosen of 27% ( The PPIP was finally drawn $20.6 billion for the Treasury)

Also Nielsen had a good IPO today and the PE exits for the “behemoth” shall be rewarding in EMs and in the USA I dont know about Fixed Income markets making a return in the year though..Liquidity and Euro shopping makes it a volatile traders binge, alsonot looking good for Blackrock are its non sequitors in the likely steamy hot commodities ETFs this year

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This entry was posted on January 26, 2011 by in Amitonomics, Banking, Emerging Markets, TARP, US.


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