BlackRock’s president sees markets primed for a comeback

(Image: Bloomberg)

Wed, 17 Apr 2024

(Bloomberg) – BlackRock Inc’s co-founder sees markets primed for a comeback. There’s almost US$9 trillion (NZ$15.3tn) right now sitting in money market funds, and the same amount sitting in cash alternatives at banks, Robert Kapito, president of the world’s largest asset manager, said at the Asia Pacific Financial and Innovation Symposium in Melbourne on Tuesday. That money pile is set to be a “very big force” in the equity market, which has shrunk as investors shifted to private assets, he said. &...

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