TreeHouse Foods Inc. (NYSE: THS), Cambium Learning Group (NASDAQ: ABCD), Waddell & Reed Financial, Inc. (NYSE: WDR), Affymetrix, Inc. (NASDAQ: AFFX), Sequenom (NASDAQ: SQNM) and BlackRock, Inc. (NYSE: BLK) getting new coverage from analysts.
Wells Fargo & Co. (NYSE:WFC) initiated coverage on TreeHouse Foods Inc. (THS). They placed an “Outperform” rating on the company.
BMO Capital Markets initiated coverage on Cambium Learning Group (ABCD). They placed an “Outperform” rating on the company.
Jefferies (NYSE:JEF) initiated coverage on Waddell & Reed Financial, Inc. (WDR). They placed a “Buy” rating and a price target of $34.00 on the company.
Mizuho initiated coverage on Affymetrix, Inc. (AFFX). They placed an “Outperform” rating on the company.
William Blair initiated coverage on Sequenom ( SQNM). They placed an “Outperform” rating on the company.
Jefferies initiated coverage on BlackRock, Inc. (BLK). They placed a “Hold” rating and a price target of $177.00 on the company.
Showing posts with label BlackRock. Show all posts
Showing posts with label BlackRock. Show all posts
Monday, August 29, 2011
Friday, August 26, 2011
BlackRock (BLK) (BRCM) (ECTE) (JNS) (SFSF) (SQNM) (SONO) (THS) (WDR) Get New Coverage
BlackRock (NYSE:BLK), Broadcom (NASDAQ:BRCM), Echo Therapeutics (NASDAQ:ECTE), Janus Capital (NYSE:JNS), SuccessFactors (NASDAQ:SFSF), Sequenom (NASDAQ:SQNM), SonoSite (NASDAQ:SONO), TreeHouse Foods (NYSE:THS) and Waddell & Reed (NYSE:WDR) getting new coverage from analysts.
Jefferies (NYSE:JEF) initiated coverage on BlackRock (BLK). They started them off with a "Hold" rating.
ThinkEquity initiated coverage on Broadcom (BRCM). They started them off with a "Buy" rating.
Stifel Nicolaus initiated coverage on Echo Therapeutics (ECTE). They started them off with a "Buy" rating.
Jefferies initiated coverage on Janus Capital (JNS). They started them off with a "Buy" rating.
Piper Jaffray (NYSE:PJC) initiated coverage on SuccessFactors (SFSF). They started them off with a "Overweight" rating.
William Blair initiated coverage on Sequenom (SQNM). They started them off with a "Outperform" rating.
Stifel Nicolaus initiated coverage on SonoSite (SONO). They started them off with a "Buy" rating.
Wells Fargo (NYSE:WFC) initiated coverage on TreeHouse Foods (THS). They started them off with a "Outperform" rating.
Jefferies initiated coverage on Waddell & Reed (WDR). They started them off with a "Buy" rating.
Jefferies (NYSE:JEF) initiated coverage on BlackRock (BLK). They started them off with a "Hold" rating.
ThinkEquity initiated coverage on Broadcom (BRCM). They started them off with a "Buy" rating.
Stifel Nicolaus initiated coverage on Echo Therapeutics (ECTE). They started them off with a "Buy" rating.
Jefferies initiated coverage on Janus Capital (JNS). They started them off with a "Buy" rating.
Piper Jaffray (NYSE:PJC) initiated coverage on SuccessFactors (SFSF). They started them off with a "Overweight" rating.
William Blair initiated coverage on Sequenom (SQNM). They started them off with a "Outperform" rating.
Stifel Nicolaus initiated coverage on SonoSite (SONO). They started them off with a "Buy" rating.
Wells Fargo (NYSE:WFC) initiated coverage on TreeHouse Foods (THS). They started them off with a "Outperform" rating.
Jefferies initiated coverage on Waddell & Reed (WDR). They started them off with a "Buy" rating.
First Solar (FSLR) (ARUN) (CLD) (BLK) (HOT) Ratings Changed
First Solar (NASDAQ:FSLR), Aruba Networks (NASDAQ:ARUN), Cloud Peak Energy (NYSE:CLD), BlackRock (NYSE:BLK) and Starwood Hotels (NYSE:HOT) had their ratings changed by analysts.
Aruba Networks (ARUN) was upgraded by BMO from "Underperform" to "Market Perform." They have a price target of $20 on the company. They cited valuation as the catalyst behind the call.
BlackRock (BLK) has a new "Hold" rating on them from Jefferies (NYSE:JEF). They have a price target of $177 on the company.
Cloud Peak Energy (CLD) upgraded by Dahlman Rose from "Hold" to "Buy." They have a price target of $24 on the company.
First Solar (FSLR) was upgraded by Collins Stewart from "Neutral" to "Buy" rating. They have a price target of $132 on the company. They cited valuation as the catalyst behind the call.
Starwood Hotels (HOT) was downgraded by Morgan Stanley (NYSE:MS) from an "Overweight" to "Equal weight" rating. They have a price target of $47 on the company.
Aruba Networks (ARUN) was upgraded by BMO from "Underperform" to "Market Perform." They have a price target of $20 on the company. They cited valuation as the catalyst behind the call.
BlackRock (BLK) has a new "Hold" rating on them from Jefferies (NYSE:JEF). They have a price target of $177 on the company.
Cloud Peak Energy (CLD) upgraded by Dahlman Rose from "Hold" to "Buy." They have a price target of $24 on the company.
First Solar (FSLR) was upgraded by Collins Stewart from "Neutral" to "Buy" rating. They have a price target of $132 on the company. They cited valuation as the catalyst behind the call.
Starwood Hotels (HOT) was downgraded by Morgan Stanley (NYSE:MS) from an "Overweight" to "Equal weight" rating. They have a price target of $47 on the company.
Tuesday, August 16, 2011
Apple (AAPL) (MDT) (BLK) (BOPH) (GOOG) (ITW) (MASI) Get New Coverage
Apple, Inc (NASDAQ: AAPL), Medtronic, Inc. (NYSE: MDT), BlackRock, Inc. (NYSE: BLK), Bohai Pharmaceuticals Group, Inc. (OTC: BOPH), Google Inc. (NASDAQ: GOOG), Illinois Tool Works Inc. (NYSE: ITW) and Masimo Corp (NASDAQ: MASI) getting new analyst coverage.
Hilliard Lyons initiated coverage on Apple, Inc. (AAPL). They placed a “Buy” rating and a price target of $475.00 on the company.
Standpoint Research initiated coverage on Medtronic, Inc. (MDT). They placed an “Accumulate” rating and a price target of $38.00 on the company.
Standpoint Research initiated coverage on BlackRock, Inc. (BLK). They placed an “Accumulate” rating and a price target of $195.00 on the company.
Feltl & Co. initiated coverage on Masimo Corporation (MASI). They placed a “Hold” rating on the company.
Dawson James initiated coverage on Bohai Pharmaceuticals Group, Inc. (BOPH). They placed a “Buy” rating and a price target of $3.00 on the company.
Hilliard Lyons initiated coverage on Google Inc. (GOOG). They placed a “Buy” rating and a price target of $700.00 on the company.
Standpoint Research initiated coverage on Illinois Tool Works Inc. (ITW). They placed an “Accumulate” rating and a price target of $55.00 on the company.
Hilliard Lyons initiated coverage on Apple, Inc. (AAPL). They placed a “Buy” rating and a price target of $475.00 on the company.
Standpoint Research initiated coverage on Medtronic, Inc. (MDT). They placed an “Accumulate” rating and a price target of $38.00 on the company.
Standpoint Research initiated coverage on BlackRock, Inc. (BLK). They placed an “Accumulate” rating and a price target of $195.00 on the company.
Feltl & Co. initiated coverage on Masimo Corporation (MASI). They placed a “Hold” rating on the company.
Dawson James initiated coverage on Bohai Pharmaceuticals Group, Inc. (BOPH). They placed a “Buy” rating and a price target of $3.00 on the company.
Hilliard Lyons initiated coverage on Google Inc. (GOOG). They placed a “Buy” rating and a price target of $700.00 on the company.
Standpoint Research initiated coverage on Illinois Tool Works Inc. (ITW). They placed an “Accumulate” rating and a price target of $55.00 on the company.
Monday, May 9, 2011
Big Movers (WLT) (MHK) (BLK) (BAP) (VRUS) on May 6
Among the big, positive movers on Friday, May 6, were Walter Energy (WLT), Mohawk Industries (MHK), Blackrock (BLK), Credicorp Ltd (BAP) and Pharmasset (VRUS).
Walter Energy (WLT) jumped $4.50, to close at $131.08, a gain of 3.56 percent.
Mohawk Industries (MHK) was up $4.31 on the day, to close at $67.48, a gain of 6.82 percent.
Blackrock (BLK) climbed $4.27 to close at $195.74, a gain of 2.23 percent.
Credicorp Ltd (BAP) rose $4.22 to close the session at $102.54, a gain of 4.29 percent.
Pharmasset (VRUS) was up $4.03 to end the day at $104.94, a gain of 3.99 percent.
Walter Energy (WLT) jumped $4.50, to close at $131.08, a gain of 3.56 percent.
Mohawk Industries (MHK) was up $4.31 on the day, to close at $67.48, a gain of 6.82 percent.
Blackrock (BLK) climbed $4.27 to close at $195.74, a gain of 2.23 percent.
Credicorp Ltd (BAP) rose $4.22 to close the session at $102.54, a gain of 4.29 percent.
Pharmasset (VRUS) was up $4.03 to end the day at $104.94, a gain of 3.99 percent.
Wednesday, May 4, 2011
Ratings on (ARCC) (AVP) (BEAT) (BLK) (CBS) Upgraded by Analysts
Analysts upgraded ratings on Ares Capital (NASDAQ: ARCC), Avon Products, Inc. (NYSE: AVP), Cardionet Inc (NASDAQ: BEAT), BlackRock, Inc. (NYSE: BLK) and CBS (NYSE: CBS) today.
Evercore Partners upgraded Ares Capital (ARCC) from an “underweight” rating to an “equal weight” rating.
Caris & Company upgraded Avon Products, Inc. (AVP) from a “below average” rating to an “average” rating. They have a price target of $32.00 on the company.
Citigroup (NYSE:C) upgraded shares of Cardionet Inc (NASDAQ: BEAT) from a “sell” rating to a “hold” rating. They have a price target of $4.45 on the company.
Ticonderoga upgraded BlackRock, Inc. (BLK) from a “neutral” rating to a “buy” rating. They have a price target of $225.00 on the company.
Piper Jaffray (NYSE:PJF) upgraded shares of CBS (CBS) from a “neutral” rating to an “overweight” rating.
Evercore Partners upgraded Ares Capital (ARCC) from an “underweight” rating to an “equal weight” rating.
Caris & Company upgraded Avon Products, Inc. (AVP) from a “below average” rating to an “average” rating. They have a price target of $32.00 on the company.
Citigroup (NYSE:C) upgraded shares of Cardionet Inc (NASDAQ: BEAT) from a “sell” rating to a “hold” rating. They have a price target of $4.45 on the company.
Ticonderoga upgraded BlackRock, Inc. (BLK) from a “neutral” rating to a “buy” rating. They have a price target of $225.00 on the company.
Piper Jaffray (NYSE:PJF) upgraded shares of CBS (CBS) from a “neutral” rating to an “overweight” rating.
Monday, May 2, 2011
Dividend Yields for (FII) (NYX) (BLK) (SLM) (NTRS)
Indicated dividend yields for Standard & Poor's 500 Index companies Federated Investors Inc (FII), NYSE Euronext (NYX), BlackRock Inc (BLK), SLM Corp (SLM) and Northern Trust Corp (NTRS).
These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.
Federated Investors Inc (FII) has a dividend yield of 1.36 percent on a declared dividend of $3.73. The payout ratio is 72.6 percent.
NYSE Euronext (NYX) has a dividend yield of 3.00 percent on a declared dividend of $0.30. The payout ratio is 50.5 percent.
BlackRock Inc (BLK) has a dividend yield of 2.81 percent on a declared dividend of $1.38. The payout ratio is 46.4 percent.
SLM Corp (SLM) has a dividend yield of 2.41 percent on a declared dividend of $0.10. The payout ratio isna.
Northern Trust Corp (NTRS) has a dividend yield of 2.24 percent on a declared dividend of $0.28. The payout ratio is 44.9 percent.
These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.
Federated Investors Inc (FII) has a dividend yield of 1.36 percent on a declared dividend of $3.73. The payout ratio is 72.6 percent.
NYSE Euronext (NYX) has a dividend yield of 3.00 percent on a declared dividend of $0.30. The payout ratio is 50.5 percent.
BlackRock Inc (BLK) has a dividend yield of 2.81 percent on a declared dividend of $1.38. The payout ratio is 46.4 percent.
SLM Corp (SLM) has a dividend yield of 2.41 percent on a declared dividend of $0.10. The payout ratio isna.
Northern Trust Corp (NTRS) has a dividend yield of 2.24 percent on a declared dividend of $0.28. The payout ratio is 44.9 percent.
Monday, April 4, 2011
Intel (INTC) (BLK) (GENZ) in Heavy Trading
Intel (NASDAQ:INTC), BlackRock Inc. (NYSE:BLK) and Genzyme Corp. (NASDAQ:GENZ) were all heavily trading in after-hours action after close Friday.
Among active movers on the Nasdaq, Genzyme topped the list in volume as it exited the index in response to being acquired by Sanofi-Aventis SA (NYSE:SNY).
BlackRock will be the company replacing Genzyme on the Nasdaq. They were also among heavy volume movers after the Friday close.
Intel also made a big move, as volume was heavy after having its near-term EPS estimates lowered by Macquarie Equities Research, which said they see “weaker-than-expected builds in the first quarter.”
BlackRock closed Friday at $202.43, jumping $1.42, or 0.71 percent. After hours they were trading down at $201.67, falling $0.76, or 0.38 percent. Volume was about 17 times above the normal 3-month daily average.
Genzyme closed at $76.01, falling $0.14, or 0.19 percent. After hours they were trading up at $76.18, gaining $0.17, or 0.22 percent. Volume for them was about 11 times above its 3-month daily average.
Intel closed Friday at $19.72, dropping $0.46, or 2.28 percent. Shares traded were over 20 million above the 3-month daily average.
Among active movers on the Nasdaq, Genzyme topped the list in volume as it exited the index in response to being acquired by Sanofi-Aventis SA (NYSE:SNY).
BlackRock will be the company replacing Genzyme on the Nasdaq. They were also among heavy volume movers after the Friday close.
Intel also made a big move, as volume was heavy after having its near-term EPS estimates lowered by Macquarie Equities Research, which said they see “weaker-than-expected builds in the first quarter.”
BlackRock closed Friday at $202.43, jumping $1.42, or 0.71 percent. After hours they were trading down at $201.67, falling $0.76, or 0.38 percent. Volume was about 17 times above the normal 3-month daily average.
Genzyme closed at $76.01, falling $0.14, or 0.19 percent. After hours they were trading up at $76.18, gaining $0.17, or 0.22 percent. Volume for them was about 11 times above its 3-month daily average.
Intel closed Friday at $19.72, dropping $0.46, or 2.28 percent. Shares traded were over 20 million above the 3-month daily average.
Thursday, March 24, 2011
BlackRock (BLK) Can Launch Actively Managed ETFs Says SEC
The iShares division of BlackRock (BLK) has been given permission by hte SEC to launch actively managed ETFs instead of only tracking ETFs, guided by certain benchmarks.
In an order dated today, regulators say that BlackRock can issue a “series of certain actively managed open-end management investment companies to issue shares” through purchases and redemptions of large blocks called creation units.
Ishares is the dominant player in the ETF field. Its diversification into active ETFs comes as some of its most popular index-based funds such as its Emerging Markets ETF (EEM) and the Russell 2000 Index Fund (IWM) face increasing competition from Vanguard and others.
BlackRock has indicated in previous filings that it plans to roll-out an active broad-based bond ETF that will use a fund-of-funds approach based on existing iShares products. It’s also expected to do much the same with its first equities fund that will use managers rather than indexes to make investment decisions.
BlackRock was trading at $185.18, gaining $1.48, or 0.81 percent, as of 12:06 PM EDT.
source
In an order dated today, regulators say that BlackRock can issue a “series of certain actively managed open-end management investment companies to issue shares” through purchases and redemptions of large blocks called creation units.
Ishares is the dominant player in the ETF field. Its diversification into active ETFs comes as some of its most popular index-based funds such as its Emerging Markets ETF (EEM) and the Russell 2000 Index Fund (IWM) face increasing competition from Vanguard and others.
BlackRock has indicated in previous filings that it plans to roll-out an active broad-based bond ETF that will use a fund-of-funds approach based on existing iShares products. It’s also expected to do much the same with its first equities fund that will use managers rather than indexes to make investment decisions.
BlackRock was trading at $185.18, gaining $1.48, or 0.81 percent, as of 12:06 PM EDT.
source
Friday, February 25, 2011
Bank of America (BAC) Gets Big 'No' From Countrywide Investors
Several large institutional investors have rejected a court settlement where Countrywide Financial Corp. had agreed to pay $600 million to a number of national pension funds.
Those pulling out of the agreement include BlackRock Inc.; the California Public Employees Retirement System, or Calpers; T. Rowe Price Group Inc.; Nuveen Investments Inc.; and the Maryland State Retirement and Pension System, according to a document from the suit filed in U.S. District Court in Los Angeles.
The investors decided the settlement, initially agreed to last May, wasn't enough and will seek their own terms with the mortgage originator and its current owner Bank of America Corp. (NYSE:BAC), as well as Countrywide's auditor KPMG LLP. KPMG had committed another $24 million to the settlement.
A spokesman for New York State Comptroller Thomas P. DiNapoli, who represented the massive New York State Common Retirement Fund in the litigation, said the fund intends to remain part of the "very reasonable settlement." Ola Fadahunsi, the spokesman, noted the comptroller's office is "very happy" with the work of its counsel on the case.
Full Story
Those pulling out of the agreement include BlackRock Inc.; the California Public Employees Retirement System, or Calpers; T. Rowe Price Group Inc.; Nuveen Investments Inc.; and the Maryland State Retirement and Pension System, according to a document from the suit filed in U.S. District Court in Los Angeles.
The investors decided the settlement, initially agreed to last May, wasn't enough and will seek their own terms with the mortgage originator and its current owner Bank of America Corp. (NYSE:BAC), as well as Countrywide's auditor KPMG LLP. KPMG had committed another $24 million to the settlement.
A spokesman for New York State Comptroller Thomas P. DiNapoli, who represented the massive New York State Common Retirement Fund in the litigation, said the fund intends to remain part of the "very reasonable settlement." Ola Fadahunsi, the spokesman, noted the comptroller's office is "very happy" with the work of its counsel on the case.
Full Story
Thursday, January 27, 2011
BlackRock's (NYSE:BLK) High Performance Fees Lead Company, Core Business Flat
BlackRock (NYSE:BLK) was able to beat expectations in their latest quarter via high performance fees, but their core business remains flat.
Concerning their latest performance, Susqhehanna said, "EPS beat on higher performance fees, but core business remains lackluster as merger-related outflows continue."
Even so, Susquehanna raised their full year 2011 EPS estimate from $12.04 to $12.13 on the expected strength of the first half.
Susquehanna also introduced their full year 2012 estimate at $13.73, which is 10 cents higher than the Street's.
Susquehanna reiterates their "Neutral" rating on Blackrock (BLK), which closed Wednesday at $199.96, gaining $1.95, or 0.98 percent. Susquehanna raised their price target on Blackrock from $183 to $206.
Concerning their latest performance, Susqhehanna said, "EPS beat on higher performance fees, but core business remains lackluster as merger-related outflows continue."
Even so, Susquehanna raised their full year 2011 EPS estimate from $12.04 to $12.13 on the expected strength of the first half.
Susquehanna also introduced their full year 2012 estimate at $13.73, which is 10 cents higher than the Street's.
Susquehanna reiterates their "Neutral" rating on Blackrock (BLK), which closed Wednesday at $199.96, gaining $1.95, or 0.98 percent. Susquehanna raised their price target on Blackrock from $183 to $206.
Tuesday, December 7, 2010
BlackRock (NYSE:BLK), Schwab (Nasdaq:SCHW), Wisdom Tree (OTC:WSDT), Eaton Vance (NYSE:EV), Invesco (NYSE:IVZ), Janus Capital (NYSE:JNS) Assessed by Ticonderoga
Ticonderoga took a look at several financial sectors and companies, including BlackRock (NYSE:BLK), Schwab (Nasdaq:SCHW), Wisdom Tree (OTC:WSDT), Eaton Vance (NYSE:EV), Invesco (NYSE:IVZ) and Janus Capital (NYSE:JNS), with varying degrees of results.
Ticonderoga Securities said, "ETF Flows Slow, Domestic Equity Improves, U.S. Bonds Have Outflows. ETF flows slowed to $10.5 billion in November from $12.1 billion in October. Domestic equity flows actually increased to $5.9 billion from $3.1 billion last month while Global flows declined to $3.6 billion from $8.3 billion last month. Note this is contrary to open end mutual funds where international remains in inflow mode and domestic mutual funds in outflow mode. This dynamic is alarming for domestically biased mutual fund managers we cover such as LM, Eaton Vance, Invesco and Janus Capital . Also notable were negative U.S. fixed income flows of $571 million. They were positive $1.6 billion in October.
"Slowdown in Passive Bonds Worth Watching for BlackRock. The slowdown in bond ETFS is worth watching. BLK had $32 billion in passive bond flows in Q3. Excluding passive bonds, BLK would have had $12 billion in outflows. We expect to see more active outflows related from quantitative and the merger. A negative turn in bond flows would likely further pressure BLK growth rates in the near term considering recent reliance on passive fixed income.
"Other Notables. The big three (Vanguard, Blackrock, State Street) continue to dominate, but smaller outfits are showing some signs of success. Schwab (NR) reported ETF flows of $205 million compared to $170 million last month. Wisdom Tree (NR) reported inflow of $490 million, fourth best for the month despite being the eighth largest ETF manager with roughly $8.8 billion in AUM."
BlackRock closed Monday at $171.48, down $0.87, or 0.50 percent. Charles Schwab closed up $16.21, gaining $0.08, or 0.50 percent. Wisdom Tree ended the trading session at $3.90, up by $0.25, or 6.85 percent. Eaton Vance was at $30.90, losing $0.29, or 0.93 percent. Invesco closed at $22.82, falling $0.17, or 0.74 percent. Janus was at $11.59, down slightly by $0.01, or 0.09 percent.
Ticonderoga Securities said, "ETF Flows Slow, Domestic Equity Improves, U.S. Bonds Have Outflows. ETF flows slowed to $10.5 billion in November from $12.1 billion in October. Domestic equity flows actually increased to $5.9 billion from $3.1 billion last month while Global flows declined to $3.6 billion from $8.3 billion last month. Note this is contrary to open end mutual funds where international remains in inflow mode and domestic mutual funds in outflow mode. This dynamic is alarming for domestically biased mutual fund managers we cover such as LM, Eaton Vance, Invesco and Janus Capital . Also notable were negative U.S. fixed income flows of $571 million. They were positive $1.6 billion in October.
"Slowdown in Passive Bonds Worth Watching for BlackRock. The slowdown in bond ETFS is worth watching. BLK had $32 billion in passive bond flows in Q3. Excluding passive bonds, BLK would have had $12 billion in outflows. We expect to see more active outflows related from quantitative and the merger. A negative turn in bond flows would likely further pressure BLK growth rates in the near term considering recent reliance on passive fixed income.
"Other Notables. The big three (Vanguard, Blackrock, State Street) continue to dominate, but smaller outfits are showing some signs of success. Schwab (NR) reported ETF flows of $205 million compared to $170 million last month. Wisdom Tree (NR) reported inflow of $490 million, fourth best for the month despite being the eighth largest ETF manager with roughly $8.8 billion in AUM."
BlackRock closed Monday at $171.48, down $0.87, or 0.50 percent. Charles Schwab closed up $16.21, gaining $0.08, or 0.50 percent. Wisdom Tree ended the trading session at $3.90, up by $0.25, or 6.85 percent. Eaton Vance was at $30.90, losing $0.29, or 0.93 percent. Invesco closed at $22.82, falling $0.17, or 0.74 percent. Janus was at $11.59, down slightly by $0.01, or 0.09 percent.
Thursday, July 1, 2010
BlackRock (NYSE:BLK) Adds Changes to Gold Offerings to Meet Growing Investor Demand
BlackRock (NYSE:BLK) recently announced they're adding a couple of changes to their gold offerings to help meet the increasing demand of investors for gold products.
The first of the two changes was the creation of a new U.S. mutual fund developed to focus on gold-related equities.
This fund, named the BlackRock World Gold Fund, will invest in "equity securities of gold-related companies from around the world," while attempting to maximize overall return.
For the second initiative of the company, this one will involve the existing iShares COMEX Gold Trust (NYSEArca:IAU), which will include a couple of enhancements to help gold investors.
First, they'll be able to have a broader access to the gold market, and second, investors will have increased flexibility in making adjustments to their gold allocation throughout their portfolio.
This should help investors lower overall costs while increasing their liquidity, according to BlackRock.
“Given the increasing interest for gold among all investor types, our strong leadership in the sector, and the significant opportunities for growth we see in the U.S., we are taking steps to continue building out the investment opportunities available to our clients,” said Robert Fairbairn, Vice Chairman of BlackRock and Head of the Global Client Group in a press release. “BlackRock has long been a leader in gold investing — with a wide range of investment solutions around the globe and a leadership position outside the U.S. And, these two product offerings are an ideal example of how we can leverage the breadth and depth of BlackRock around the world to deliver the best possible solutions for our clients.”
The first of the two changes was the creation of a new U.S. mutual fund developed to focus on gold-related equities.
This fund, named the BlackRock World Gold Fund, will invest in "equity securities of gold-related companies from around the world," while attempting to maximize overall return.
For the second initiative of the company, this one will involve the existing iShares COMEX Gold Trust (NYSEArca:IAU), which will include a couple of enhancements to help gold investors.
First, they'll be able to have a broader access to the gold market, and second, investors will have increased flexibility in making adjustments to their gold allocation throughout their portfolio.
This should help investors lower overall costs while increasing their liquidity, according to BlackRock.
“Given the increasing interest for gold among all investor types, our strong leadership in the sector, and the significant opportunities for growth we see in the U.S., we are taking steps to continue building out the investment opportunities available to our clients,” said Robert Fairbairn, Vice Chairman of BlackRock and Head of the Global Client Group in a press release. “BlackRock has long been a leader in gold investing — with a wide range of investment solutions around the globe and a leadership position outside the U.S. And, these two product offerings are an ideal example of how we can leverage the breadth and depth of BlackRock around the world to deliver the best possible solutions for our clients.”
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