BlackRock Strategic Income Opportunities Halved His Emerging Markets Exposure

2018-07-30, BlackRock’s $35.5 Billion flagship fund – BlackRock Strategic Income Opportunities Fund, managed by Rick Rieder, reduced his exposure to emerging markets by more than half over the last few months from 17% in February to 7.3% at the end of June, on concerns such as a strengthening US dollar, according to reports.

Year-to-date as of 2018-07-31, the fund achieved a -0.12%.

‘I still would argue volatility is going to be higher, the dollar could potentially continue to grind higher,’ Rieder, BlackRock’s chief investment officer of global fixed income, he told Reuters on Friday.

Rieder said that despite the headwinds he continued to hold select positions in China, Argentina and Indonesia.

Rieder oversees more than $1.6 trillion in fixed income assets.

Reference:

Citywireusa.com, Michelle Abrego, 2018-07-30, “BlackRock’s Rick Rieder has reduced his Exposure to Emerging Markets by More than Half over the Last Year”