ETF Trends
ETF Trends

BlackRock (NYSE: BLK), the world’s largest asset manager, has reportedly appointed a new leader for its iShares exchange traded funds business in the U.S.

Martin Small will become U.S. iShares head in March, Ashley Lau reports for Reuters, citing a memo from iShares global head Mark Wiedman sent to employees on Sunday night.

iShares is the world’s largest ETF issuer. Last year, the company hauled in a record $102.8 billion in new ETF assets, or 31% of the nearly $332 billion hauled in last year by the industry as a whole.

“Growth was driven by the iShares U.S. and European product lines, which continue to be adopted by investors across the globe. The iShares U.S. product line led the way with a record $82.8bn of new assets in 2014, surpassing the previous record for U.S. iShares ETFs of $62.0bn in 2012. In Europe, the business captured $20.3bn in net new flows,” according to a statement issued by iShares.

In the U.S. last year, three iShares ETFs – the iShares Core S&P 500 ETF (NYSEArca: IVV), iShares Core U.S. Aggregate Bond ETF (NYSEArca: AGG) and the iShares MSCI EAFE ETF (NYSEArca: EFA) – ranked among the top 10 asset-gathering ETFs for the year. Among issuers only Vanguard with four placed more ETFs among the top 10 funds for inflows than iShares. [Equity ETFs Lead 2014 Inflows]

Of the 20 largest U.S.-listed ETFs by assets, nine are iShares funds, more than any other issuer.

ETFs account for 24% of BlackRock’s $4.6 trillion in assets under management, up from 18% five years ago, according to Reuters.

 

ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of IVV and EFA.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.