Nov 14 Money manager BlackRock Inc's new
"core" series of iShares exchange-traded funds have attracted $2
billion from customers so far, President Rob Kapito said on
BlackRock, the world's largest money manager, announced the
new line of lower-cost ETFs in iShares on Oct. 15 as a way to
better compete with cheaper funds from competitors like Vanguard
Group and Charles Schwab. While the new line up carried
lower prices, BlackRock maintained the same fee levels on the
rest of its industry-leading ETF family.
"I would say, so far, very happy with the successes," Kapito
said, speaking at a Bank of America Merrill Lynch conference in
New York. Flows into the rest of the iShares family also
continue to be strong, he said.
The iShares family, which oversaw $706 billion worldwide at
the end of the third quarter, had taken in $49.5 billion from
customers through the end of September, according to BlackRock.