According to CNN BlackRock president Robert Kapito is walking the firm's talk.
Kapito, who helped found the world's largest asset management firm, now has about 70% of his investment assets in dividend-paying global companies, and 30% in high-yield corporate bonds.
Those are both cornerstones of BlackRock's new "Investing in a New World" initiative, which encourages investors to get out of idle cash and find assets that generate income in a slow-growth, low-rate environment.
Americans had a record $10 trillion deposited in their bank accounts at the end of 2011, noted Kapito. And with the Federal Reserve holding interest rates near historic lows, that cash is earning virtually nothing.
"People need to rethink the cost of cash, and think about income," said Kapito. "They're worried they don't earn enough and won't have enough to retire on, but the longer they sit in cash, the longer they'll have to work and they won't be able to retire when they want to."
Read more at http://money.cnn.com/2012/03/06/markets/blackrock/index.htm?iid=A_BN_News
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