Home » Business » BlackRock boss Fink: Corona virus will change the world | 3/31/20

BlackRock boss Fink: Corona virus will change the world | 3/31/20

The US financial giant BlackRock expects the corona virus pandemic to have fundamental consequences for the economy and society.

The spread of the virus “not only put pressure on financial markets and short-term growth,” but also reevaluated many assumptions about the global economy, writes chief wealth manager Larry Fink in his letter to shareholders this year.

“If we survive this crisis, the world will be different. Investor psychology will change. Business life will change. Consumption will change,” said the letter published on Tuesday.

Overall, Fink is confident about the future: “The world will weather this crisis. The economy will recover. And those investors who do not look at the shaky ground under our feet, but at the horizon, are now offering themselves on the markets tremendous opportunities. “

In terms of investments, the current crisis, according to Fink’s assessment, could become a catalyst for offers that take into account criteria such as environmental protection, social issues and good corporate governance. “The current pandemic shows us how fragile the world is and what value there is in sustainable portfolios,” writes Fink. “When we get through this crisis and investors adjust their portfolios, we have the opportunity to create a more sustainable world.”

The words of the BlackRock boss have weight. The financial giant, founded in 1988, manages a good $ 7.4 trillion in investment funds in 2019, according to the latest figures. The US company has stakes in more than 15,000 companies worldwide, including all DAX companies in Germany.

/ ben / DP / mis

FRANKFURT / NEW YORK (awp international)

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