BlackRock’s Trillions

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June 23, 2009 2:37pm ETF BASIC NEWS

While most sectors of the stock market have rallied sharply from their lows in March, one sector stands out: the people who manage other people’s money. Mutual fund companies such as T. Rowe Price ( TROWnews people ), private equity managers such as Blackstone ( BXnews people ) and index shops like State Street ( STTnews people ) have all bounced by more than 35% in the last three months. Capping that whiplash performance is BlackRock’s merger with Barclays Global Investors, which will create the world’s largest asset-management company.

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