BlackRock Financial News

Black Money Act, 2015. As per The Times of India report, a Mumbai Income Tax Appellate Tribunal (ITAT) levied a penalty of Rs 10 lakh for each year where foreign shares and other assets were not reported in the 'Schedule FA' of the ITR on the individual. An individual is mandatorily required to fill schedule FA of the ITR if they had invested in foreign assets (such as foreign shares, foreign company mutual funds etc.) directly or have held employee stock options (ESOPs) of foreign companies. «Section 43 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 requires a resident individual to provide information of his foreign assets located outside India in the ITR. If he fails to do so the Assessing Officer may levy a straight penalty of Rs 10 lakh on such person.

Bitcoin, the world's most valuable cryptocurrency, was trading below $27,000 early on Wednesday, showing a nearly 0.50% decrease in price to $26,220. 

Schwab Asset Management is making an aggressive attempt to offer some of the cheapest bond exchange-traded funds on the market.

«The rally may continue due to more flows and less companies to invest in,» Kalpen Parekh, managing director and CEO of Mumbai-based mutual fund DSP, told the Reuters Trading India forum. Mid- and small-cap indexes have significantly outperformed their larger peer in 2023. The Nifty small-cap 100 index has risen nearly 33% this year, while the Nifty midcap 50 index is up around 29%, versus an 8.7% rise in the benchmark Nifty 50.

Vanguard Group Inc. is planning its first active exchange-traded funds in two years, with both new planned products focused on the fixed-income market.

Nick King, head of ETFs at Robeco

volatility in the near-term after JPMorgan announced India's inclusion in its widely tracked emerging market debt index, BlackRock's head of Asia Pacific fixed income said on Friday. JPMorgan said 23 Indian Government Bonds (IGBs) with a combined notional value of $330 billion were eligible for inclusion in its Government Bond Index-Emerging Markets (GBI-EM) index and index suite, benchmarked by about $236 billion in global funds. Neeraj Seth, chief investment officer and head of APAC fundamental fixed income at BlackRock, expects inflows of around $20 billion to $25 billion into India after the maximum weight threshold of 10% is achieved on the GBI-EM index. Given the size of the $2 trillion global government bond market, it may add only a little bit to the volatility in Indian bond markets, Seth told the Reuters Global Markets Forum. The volatility would become «more profound and visible» if foreign ownership were to go into double digits, Seth said, adding that he expected foreign ownership of Indian government bonds to rise to 3.0%-3.5% post-inclusion. «I don't think that's significant enough to move the markets around,» he said. Foreign investor buying in Indian bonds has remained tepid with net purchases of $3.4 billion so far in 2023. Foreign investors own less than 2% of outstanding government debt. Separately, Seth believes there will be a shift in asset allocations as markets head into 2024, which he sees becoming a «very attractive year», especially for U.S.

BlackRock Global Fixed Income CIO Rick Rieder discusses whether the Fed is close to ending the current rate hike cycle on 'The Claman Countdown.'

Key ETF Dates Stir Volatility Expectations in Options Market

This week, one of the hallmark events centered on curbing global warming — NYC Climate Week — convened sustainability experts and evangelists from around the world in one place.

India's inclusion in its widely tracked emerging market debt index, BlackRock's head of Asia Pacific fixed income said on Friday. JPMorgan said 23 Indian Government Bonds (IGBs) with a combined notional value of $330 billion were eligible for inclusion in its Government Bond Index-Emerging Markets (GBI-EM) index and index suite, benchmarked by about $236 billion in global funds. Neeraj Seth, chief investment officer and head of APAC fundamental fixed income at BlackRock, expects inflows of around $20 billion to $25 billion into India after the maximum weight threshold of 10% is achieved on the GBI-EM index. Given the size of the $2 trillion global government bond market, it may add only a little bit to the volatility in Indian bond markets, Seth told the Reuters Global Markets Forum. The volatility would become «more profound and visible» if foreign ownership were to go into double digits, Seth said, adding that he expected foreign ownership of Indian government bonds to rise to 3.0%-3.5% post-inclusion. «I don't think that's significant enough to move the markets around,» he said. Foreign investor buying in Indian bonds has remained tepid with net purchases of $3.4 billion so far in 2023. Foreign investors own less than 2% of outstanding government debt. Separately, Seth believes there will be a shift in asset allocations as markets head into 2024, which he sees becoming a «very attractive year», especially for U.S.

BlackRock Inc. and other money managers spent years rolling out sustainable funds, seeking to capitalize on surging interest in ESG investing. Now they’re abandoning an increasing number of those products in the U.S. amid political backlash and investor scrutiny.

BlackRock Inc.’s Amanda Lynam says the rebound in junk bond issuance is set to accelerate, as companies work to get ahead of a wall of maturities starting in 2025. 

In the sustainable investing world, motivating companies to do better has happened through two basic strategies: divestment and engagement — and new research shows that using elements of both can accomplish the most.

BlackRock currently oversees $320bn in alternative investments, $156bn of which is in private markets.

Covid-19 pandemic. Its property market is in deep distress with default risks. Even though the government has announced several stimulus measures in the last few months, they have not been able to instil optimism in the economy.

Proxy voting for investors is about to become a whole lot easier.

In the ever-evolving cryptocurrency landscape, rumors suggest that BlackRock (NYSE:BLK), the world's largest asset manager with over $9 trillion in assets under management, may be reassessing its digital asset strategy. The financial giant is speculated to be considering a shift in focus from Bitcoin, the leading digital currency, to XRP, a digital asset primarily known for its payment protocol.

BlackRock Inc.’s Edwin Conway says big money clients are snapping up private investments for their portfolios. 

FTSE 100 hit its highest in six weeks on Thursday after the European Central Bank signalled an end to its monetary tightening cycle, while industrial metal miners led the gains after a surge in iron ore prices. The exporter-heavy FTSE 100 index rose the most in over 10 months, soaring 2.0%. The midcap index mirrored the moves and was up 1.8%. The European Central Bank raised its key interest rate to a record high of 4% on Thursday but, with the euro zone economy in the doldrums, signalled that the hike, its 10th in a 14-month-long fight against inflation, was likely to be its last. «The focus is now shifting from how high policy rates get to how long they stay there,» said Ann-Katrin Petersen, Senior Investment Strategist at the BlackRock Investment Institute. «We see inflation remaining sufficiently high that the ECB will not cut until well into 2024 amid a tight labour market and subdued productivity.» Boosting sentiment, data from U.S.

'Active managers as yet have not truly grasped the nettle that the cost of investing in active funds is still too high.'