BlackRock's Fink Sees Fixed Income ETFs as Big Growth Area
- Firm saw $27 billion of first-quarter inflows to fixed income
- Fink says clients turning to these ETFs as substitute for cash
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BlackRock Inc.’s Laurence D. Fink said fixed income exchange-traded funds, which have trailed their stock counterparts in asset growth, are becoming increasingly popular among investors.
At BlackRock, more than $27 billion of first-quarter inflows came from bond ETFs, driving the firm’s $36.1 billion of net long-term inflows. Overall, the industry saw record inflows during the quarter of $43.7 billion to global fixed-income ETFs.