Asset managers need to be more involved with regulators, BlackRock CEO Laurence Fink says.
As fiduciaries, asset managers “owe it to (the clients) to speak up” to regulators about the future of retirement, Fink said at a New York conference Tuesday. Managers often want to stay out of the headlines, but that means they’re shirking their responsibility to investors to educate and influence regulations, he says. Reports Pensions & Investments:
“Most asset managers don’t want a voice. Most just want to stay out of the news and collect their fees,” he said.
The U.S. is lagging in infrastructure opportunities as well, Fink said at the conference. BlackRock has recently partnered with Mexican companies for infrastructure investments. It’s looking to India next. BlackRock has about $6 billion in infrastructure now, and Fink wants to grow that number to between $20 billion and $30 billion.
“It’s a major component for future growth,” for the firm he said. “More importantly, I look at it as a mechanism for us to be an impact investor in countries around the world.” … Mr. Fink called U.S. infrastructure “sad” and said it is “affecting the quality of life in the U.S.” He added that he thinks infrastructure investment could be an important component for creating good jobs as well.
Photo: BlackRock.