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Laurence Fink |
Laurence Fink, chairman and ceo of BlackRock, said in the firm’s fourth quarter earnings call today that mutual fund boards need to begin engaging their fund complexes in conversations about lowering fees. Fink said fees should be brought down to stem outflows while fund providers work on turning around performance, a necessary step following years of watching money seep out of long-term mutual funds.
U.S. stock funds shed some $84.7 ....