OPINION: BlackRock chief executive Larry Fink on the big opportunities in AI, his fierce ESG battle, and the thing Australia does better than the rest of the world.
Buried in BlackRock boss Larry Fink’s latest CEO letter is a fascinating statistic about the way the investment giant has delivered for its shareholders: since its IPO in 1999, it is the best-performing financial services stock in the S, which is arguably the biggest shift in equity markets over the last two decades.
At BlackRock, it could create “an incredible opportunity for us in aggregating data information, so we can be better investors. AI can really help us answer more difficult questions. We are paranoid, petrified, and enthusiastic”. “I actually see a future where bond ETFs are going to be bigger as a percentage of the market than equity ETFs, so we look at this as a great opportunity.”found itself under sustained and savage criticism from Republican Party politicians in the US
Fink is proud of BlackRock’s advocacy and the investments it has made to support decarbonisation, and his key message is that a bumpy energy transition will require an all-hands-on-deck approach.The ESG battle doesn’t appear to have had much impact on BlackRock’s business, or the global momentum behind the energy transition.While Republican campaigning did see $US4 billion of outflows, this was dwarfed by $US400 billion of inflows, more than half of which came from the US.
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