BlackRock Leads Funds Raising Credit Lines Amid Review
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As Larry Fink predicts bouts of volatility in bond markets in the coming years, his firm is leading a push among mutual fund firms to reinforce their defenses.
Fink’s BlackRock Inc. has increased the amount its mutual funds can collectively borrow to meet withdrawals to $2.1 billion as of November from $500 million in early 2013, regulatory filings show. Eaton Vance Corp., Goldman Sachs Group Inc. and Guggenheim Partners are among the firms that have also arranged new borrowing agreements or bolstered existing ones in the past year.