June 17, 2014 / 10:15 PM / 4 years ago

BlackRock CEO: growth target could be derailed by rising oil, conflict

June 17 (Reuters) - The chief executive of BlackRock Inc , the world’s largest asset manager, on Tuesday backed his company’s target to generate 5 percent annual growth in assets under management, but said that goal could be derailed by continued conflict in the Middle east and rising oil prices.

Larry Fink, chairman and CEO of BlackRock, backed the growth target at the company’s annual investor day in New York. He said he’s seeing more momentum from institutional clients, especially in fixed income products.

But at the same time, he said conflict in the Middle East and rising oil prices could hurt investor confidence.

“If something blocks the confidence levels of investors, obviously we’re not going to get that growth rate,” Fink said.

Reporting By Tim McLaughlin; Editing by Chris Reese

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