The U.S. Securities and Exchange Commission has begun a broad examination of alternative mutual funds, the Wall Street Journal reported, citing people familiar with the matter.The so-called funds "sweep" includes examinations of large investment companies such as BlackRock Inc and AQR Capital Management LLC, and smaller firms that previously did not offer mutual funds, the Journal said. (on.wsj.com/1ppVgBx)BlackRock has launched seven alternative mutual funds aimed at penetrating the retail alternatives market.Alternative mutual funds typically employ investment strategies that imitate those of hedge funds, such as investing in private debt or shorting assets, and command higher fees.
BlackRock, Inc. (BlackRock) is an investment management firm. Shares of BLK traded higher by 0.79% or $2.44/share to $310.88. In the past year, the shares have traded as low as $257.19 and as high as $331.90. On average, 545530 shares of BLK exchange hands on a given day and today's volume is recorded at 554143.
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