The outcome of the looming US election “really doesn’t matter” for financial markets, BlackRock chief executive Larry Fink said.
“I’m tired of hearing this is the biggest election in your lifetime. The reality is over time it doesn’t matter,” Fink told a conference hosted by the Securities Industry and Financial Markets Association on Monday.
The co-founder of the world’s largest asset manager said that more than half of the firm’s $11.5tn in assets under management were retirement funds.
“Unfortunately, there’s too much preoccupation with whether the market’s going up or down at any one time, any one quarter,” Fink said. “It really doesn’t matter.”
But, he noted, “we work with both administrations and are having conversations with both candidates”.
