Continued rise in expenses might hurt BlackRock's (BLK) bottom-line growth. However, efforts to restructure the active equity business will likely aid the top line.
Fink was speaking at the New York Times Dealbook conference.
NEW YORK (Reuters) -Asset manager BlackRock has said 2023 will require a new investment playbook, backing banks and energy sectors to do well, while slapping 'underweights' on longer-term European government bonds and emerging market local currency debt. The BlackRock Investment Institute (BII) said in its 2023 global outlook that while the case for investment credit had brightened and short-term government debt yields looked attractive, the pressures of higher interest rates would weigh on longer-term sovereign bonds.