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BlackRock Second-Quarter Profit Climbs 11% as Assets Rise

BlackRock Inc. (BLK), the world’s biggest money manager, said second-quarter profit rose 11 percent as investors added money to its funds, boosting assets and the fees for managing them. Net income increased to $808 million, or $4.72 a share, from $729 million, or $4.19 a share, a year earlier, the New York-based company said today in a statement. Excluding certain items, adjusted earnings of $4.89 a share beat the $4.46 average of 20 analysts surveyed by Bloomberg.   Via Bloomberg

Looking for alpha in all the wrong places

Gregory Zuckerman of the Wall Street Journal explains why many hedge funds and pension funds have missed out on much of the rally since 2009. Via CNBC

 

Viking Global Investors preps $2 billion illiquid investments fund

Viking Global Investors, the $28.8 billion firm led by Andreas Halvorsen, is preparing the launch of a new fund to focus on illiquid investments, according to three people briefed on the matter.  Via CNBC.Com

 

 

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