BlackRock manages up to €11Bn worth of assets in Portugal

BlackRock, the largest asset manager in the world is currently managing between €8Bn and €11Bn worth of assets in Portugal.

The company manages Portuguese assets of 50 clients which are spread between funds, ETF (Exchange-traded funds) and the platform Aladdin – a comprehensive platform that unifies insurance investment management. It provides a common data language, enabling scale, insights, and transformation. It connects assets and liabilities, managing your portfolio across all markets, both public and private.

In an interview with business daily Negócios, André Themudo said that BlackRock worked with practically all the financial groups in Portugal, some foundations, some family offices, as well as some new players like digital banks and neobrokers.

“We have customers that did not exist before and that today are expanding and are coming to Portugal in a more aggressive way. I would say that maybe we have a total of 50 institutions or clients of our own with whom we have contacts in Portugal. There are clients who may have 30 or 20 lines of engagement with us”, he said.

“In terms of assets under management, I would say that in Spain we manage about €45Bn of assets of Spanish clients. In Portugal, the proportion is well adapted to the size of the Portuguese market, if we consider four to five times less what Portugal is in terms of population. It fluctuates, of course, from month to month in relation to assets, and depends on the stock market and the markets, but I would say between €8Bn and €11Bn”, he added.

However, he said it was necessary to put into context the results of the group and the size of BlackRock globally. BlackRock currently manages about US$10.5Trn on behalf of clients, of which US$1.9Trn represents Europe and $60Bn represents Iberia. The United States and the Americas make up the lion’s share for BlackRock.