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BlackRock hits record $6 trillion assets, helped by Trump tax law

Reuters  |  NEW YORK 

By Trevor HunnicuttNEW YORK (Reuters) - BlackRock Inc charged past a record $6 trillion in assets, its profit beating Wall Street forecasts, as investors flooded into the relatively low-cost funds of the world's largest asset manager.A new U.S. tax law, which sliced corporate and individual income rates, also helped the company's results in the fourth quarter ended Dec. 31. BlackRock said on Friday it saw a $1.2 billion tax benefit related to the law and raised its quarterly cash dividend by 15 percent."We've been winning more share of wallet," Chief Executive Larry Fink told Reuters."Fees ...

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First Published: Fri, January 12 2018. 22:57 IST
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