NEW YORK, September 30, 2022--BlackRock announced today the planned termination of the iShares iBonds Dec 2022 Term Muni Bond ETF (NYSE: IBMK).
LONDON (Reuters) -U.S. asset management group BlackRock said on Friday it was reducing leverage in so-called liability-driven investment (LDI) funds at the centre of chaotic market conditions for British pension funds this week, to protect its clients' capital. British government bond prices slumped by their most in decades following finance minister Kwasi Kwarteng's first fiscal statement last Friday, threatening the stability of the country's pension funds and forcing the Bank of England to intervene on Wednesday. "As a result of the extreme volatility in the gilts market this week, we have been working expediently over recent days to support our clients' interests," a BlackRock spokesperson said in an emailed statement.
BlackRock Inc's majority-owned China asset management unit has named Hua Fan, former chief investment officer of China Merchant Bank's wealth management business, as its new general manager, equivalent to chief executive, the U.S. asset manager said in a statement. Fan is likely to start in her new role after getting regulatory approval, and will replace Bing Ji, who is stepping down two years after being appointed as general manager of the China asset management unit.