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BlackRock Remains a Top Industry Pick

The wide-moat firm reported disappointing earnings, but its AUM numbers were better than expected.

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Greggory Warren: While BlackRock's fourth-quarter earnings might have been a bit of a disappointment on the bottom line, the company reported better AUM and organic growth numbers than most were expecting. 

Looking at the preliminary AUM numbers for most of the other asset managers that have reported so far, the company did a much better job holding onto assets and actually had better organic growth as a group as a whole. iShares continues to be the biggest generator flows within the ETF market, picking up as much in assets as its next five largest competitors combined during 2018. We expect the company to continue to maintain its market share of 40% in the U.S., and 37% globally as we move forward, with the ETF industry expected to grow anywhere from 8 to 12% organically over the next five years. 

Greggory Warren does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.