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Low-fee BlackRock funds reel in cash but earnings disappoint

Reuters  |  NEW YORK 

By Trevor HunnicuttNEW YORK (Reuters) - BlackRock Inc's second-quarter results failed to impress Wall Street on Monday as the world's biggest asset manager cut fees to lure a wave of investor cash into its exchange-traded funds, sending shares down more than 3 percent.Investors of all types have been piling into ETFs and dumping more expensive alternatives, and BlackRock's fees on some products have raced toward zero while competitors like Vanguard Group and Charles Schwab Corp offer ETFs at or near the cost of managing them.New York-based BlackRock's largely index-tracking iShares ETFs ...

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First Published: Tue, July 18 2017. 01:06 IST
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