Actionable news
0
All posts from Actionable news
Actionable news in BLK: BLACKROCK Inc,

Daniel Loeb's Third Point up 10.7% this year, adds new positions in Alibaba and BlackRock

Daniel Loeb's Third Point took a new stake in BlackRock, calling the asset manager a "misunderstood franchise."

The hedge fund touted BlackRock's oligopoly in the passive investing world, where its 38 percent market share in exchange-traded funds, or ETFs, is rising, according to Third Point's second quarter investor letter, which was obtained by CNBC.

The firm said BlackRock's iShares had more inflows in the first half than the next 10 competitors combined.

"We think this acceleration in ETFs is just getting started," Third Point said in the letter. "BlackRock is valued like a traditional asset manager but it has much...


More