The value of BlackRock Inc. assets jumped above the $6 trillion thanks to the Trump tax reform. The largest fund in the world registered $6.3 trillion in the fourth quarter, and the fund management said the net profit increased by $1.2 billion. related entirely to changes in tax legislation. With respect to customer confidence, the company said they enjoyed the best incoming cash flow in their history, $367 billion.
According to the CEO of the company, Laurence Fink, the incentive for tax reform is likely to lead to more money in the company's investment products and will even raise stock and bond prices.
Black Rock actual tax rate will drop to 23% from 31%. This will most likely increase the company profitability by 6% to 7%. Black Rock increased its dividend and reported adjusted EPS, which significantly exceeded market participants' estimates.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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