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ARTICLE · 24 APRIL 2017

Blackrock To Upgrade Funds With AI, Machine Learning

Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP
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Herbert Smith Freehills Kramer LLP

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BlackRock is planning to overhaul its actively managed equity funds to create an increased focus on machines and algorithms, as investors continue to shift towards lower cost passive funds.

United StatesFinance and Banking
George Silfen
George Silfen
Ronald Feiman
Ronald Feiman
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BlackRock is planning to overhaul its actively managed equity funds to create an increased focus on machines and algorithms, as investors continue to shift towards lower cost passive funds. The firm plans to terminate seven portfolio managers from funds with approximately $30 billion in AUM as it moves towards a more quantitative approach. In addition, BlackRock's active equity products will be reorganized into four product lines: core alpha, high conviction alpha, outcome oriented and country/sector specialty. The firm will incur approximately $25 million of expenses in Q1 of 2017 as a result of severance and accelerated compensation expenses from the reorganization.

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