July 25, 2018
Deutsche Bank – Inside M&A
A group of our members visited BlackRock, the largest Asset Manager worldwide, on the 41th floor of the Frankfurt OpernTurm. The purpose of the evening was to get to know their ETF & Index Investing Department as well as BlackRock’s Environmental, Social and Governance (ESG) Investing Department.
After a short and interesting presentation about the history of BlackRock, Wolfgang Wagner, Konrad Kleinfeld and Carlo Funk provided us with insights on the unique position of BlackRock compared to other Asset Managers. For example, many of the largest Asset Manager in the world also invest with their own money – in contrast to this BlackRock represents the opinion, that this would only reinforce a possible conflict of interest between them and their clients.
On the one hand, we received an introduction to the cash flows of primary and secondary ETF (Exchange Traded Fund) markets and which steps are necessary for the issue of a new ETF. In addition, we also discussed about the current change of the ETF market and the possible consequences growing investments in ETFs. On the other hand, we had a look on two case studies about how ESG portfolios can improve ESG and carbon outcomes with comparable risk-return profiles.
At the end of the evening, we had the opportunity to discuss specific topics in smaller groups with Wolfgang, Konrad and Carlo while soaking in the amazing sunset views of Frankfurt’s Skyline.