BlackRock, the world's largest asset manager, reported lower-than-expected quarterly profits on Wednesday, as price cuts and market turmoil overshadowed strong sales of relatively low-cost funds. Sinking markets in late 2018 led investors to pull cash from the company's typically higher-fee actively managed funds even as they delivered record cash to the company's relatively low-cost exchange...
BlackRock, the world's largest asset manager, reported lower-than-expected quarterly profits on Wednesday, as price cuts and market turmoil overshadowed strong sales of relatively low-cost funds. Sinking markets in late 2018 led investors to pull cash from the company's typically higher-fee actively managed funds even as they delivered record cash to the company's relatively low-cost exchange...
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