Investment titan Blackrock in bullish mood amid signs of solid growth in the US and China
Blackrock has reinforced its position as the world’s biggest fund manager, sucking in an extra £50bn to give it total assets of £5trillion
Markets could rally sharply amid signs of solid growth in the US and China, according to the boss of investment titan Blackrock.
Better economic data and a pause in interest rate rises create ‘Goldilocks’ conditions for a rebound, Larry Fink said as Blackrock reinforced its position as the world’s biggest fund manager, sucking in an extra £50billion to give it total assets of £5trillion.
Fink said many big investors are waiting for signs of solid growth before they pump money into stocks.
He said: ‘There’s too much global pessimism. There’s still a lot of money on the sidelines, and I think you’ll see investors put money back into equities.’
Blackrock also raised the alarm about climate change.
Richard Turnill, chief investment strategist, said: ‘Decisive actions to curb carbon emissions could mitigate damage. Climate change is increasingly a risk that investors cannot afford to ignore.’