NEW YORK (Reuters) - BlackRock Inc (N:BLK) Chief Executive Officer Larry Fink said on Thursday that his company missed earnings expectations as Wall Street analysts were "anticipating higher performance fees" on hedge funds.
Fink told CNBC television that the industry is seeing a rotation as clients re-evaluate high-fee funds but that withdrawals in the broader hedge-fund industry have not hit the company's business.
In the wide-ranging interview, Fink called for greater government fiscal policy, investment in infrastructure and said a British exit from the European Union was likely if the vote were held today.