01/14/17 02:47 AM ESTBy Sarah KrouseThe world's largest money manager pulled in record new cash in 2016 as investors poured more money into lower-cost index-tracking funds. The strongest drivers of that new money were institutional investors and its iShares exchange-traded fund unit. BlackRock's flows reinforce the ongoing shift in investor taste for lower-cost passive funds that track the performance of indexes. "Institutions paused and in the fourth quarter, they put a lot of that money to work," he said in an interview. "We have not witnessed any slowdown in the behavior of our distribution partners," Mr. Fink said.

Source: Wall Street Journal January 14, 2017 22:32 UTC