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BlackRock to cut jobs, fees in revamp of unit

The company's active-equity funds have lagged behind rivals for years
Thu, Mar 30, 2017 - 5:50 AM

Boston

BLACKROCK Inc, the world's largest asset manager, is shaking up its struggling stock-picking unit by cutting jobs, reorganising funds and lowering fees.

The revamp, which embraces quantitative strategies, moves US$8 billion of the US$201 billion run by traditional stock...

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