This Financial Powerhouse Is Thriving Despite Market Volatility
It's no secret that 2022 has been a tough year across investment classes, with the S&P 500 index down 18% while the Nasdaq Composite index is down 26%. Now that earnings season is in full swing, investors can see just how much volatile markets have impacted different businesses.
One company that reported earnings last week was the global asset manager, BlackRock (NYSE: BLK). The second quarter weighed on the company's investments, and earnings fell as a result. Still, investors have reason to be optimistic as the firm saw robust demand for its products despite falling asset prices.
BlackRock manages investments for clients around the globe, and its $8.5 trillion in assets under management (AUM) makes it the world's largest asset manager, ahead of Vanguard Group, UBS Group, and Fidelity Investments. The firm provides clients with various investment options, including mutual funds and trust funds, but it's best known for its exchange-traded funds (ETFs) through its iShares brand.
Source Fool.com
