BlackRock Investors Flee Long-Term Funds in First Quarter
- Net outflows from long-term products were $19 billion
- First quarter’s market meltdown caused investor panic
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BlackRock Inc. saw net outflows from its long-term investment products for the first time in five years, as panicked investors fled the first-quarter’s market turmoil.
Institutional investors withdrew about $31 billion from offerings including mutual funds and exchange-traded funds, BlackRock said Thursday. Total net outflows from such long-term investment products were $19 billion in the quarter.