Institutional investors fuel BlackRock growth

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GLOBAL - BlackRock's net new business totalled US$82bn in the fourth quarter of 2009, with pension funds and other institutional investors accounting for 60% of it.

Net income for the quarter was $256m, up $204m compared to 2008. The money manager said institutions invested $49.3bn in all its products, with the exception of active scientific equity and advi...

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