BlackRock Inc – Invest In Asset Stocks
BlackRock is known to most people today as a large asset management firm. But did you know that BlackRock has some connection to the famous private equity firm Blackstone Group? The founder of BlackRock is Larry Fink. He sought funding for a new venture from Pete Peterson of Blackstone. The investment was granted, and Larry Fink went ahead with his vision of creating a financial firm focused on risk management. Larry had lost around $100 million while heading First Boston and was, therefore, passionate about developing risk management systems and processes. BlackRock was founded in 1988, and by 1992, it was managing some $17 billion in assets. The growth of BlackRock was quite impressive. It eventually went public by listing on the New York stock exchange in 1999. The listing price was $14 at the time. Today, the cost of the stock is over $900. If you are thinking about investing in asset management stocks, then you may want to take a look at BlackRock.
The Asset Management Industry
The asset management industry is labeled as a $100 trillion machine by well-known consulting company BCG. The pandemic saw plenty of disruption among multiple sectors. However, the asset management sector has emerged strongly from the event. The retail investors were the main drivers for the asset management industry. North America is the largest regional market in the world. The assets under management, a vital metric of the asset management industry, grew there by 12%. The Middle East and Africa region also grew its assets under management metric at 12%. The second highest growth came from the Asian region at 11%, while the European area was the third-fastest at 10%. If you are looking to invest in asset stocks, then keeping track of such trends is essential.
Investing In Asset Management Stocks
BlackRock’s stock has been on a solid run since the March 2020 market fall. It has gone from around $350 to $900 in about 20 months. On 14th December 2021, the stock was trading at a 1.83% dividend yield.