贝莱德BlackRock (BLK) 2010年年度报告「NYSE」.pdf

1、Annual Report 2010Table of ContentsBusiness Highlights/02Financial Highlights/03Letter to Shareholders/04Our Business and Ten Trends Driving Change and Opportunity/10Asset Classes/18Investment Styles/27BlackRock Solutions and Advisory/34Global Executive Committee/38Board of Directors/39Financial Inf

2、ormation/40The financial system is poised for tremendous change.Reinvention is the watchword of the day.BlackRock is ready.Ready to leverage our unique,globally integrated platform.Ready to tap into our unique combination of alpha,beta and solutions.Ready to create value for clients and shareholders

3、 alike.We highlight 10 key trends driving change and opportunity in our 2010 annual report to shareholders.2 B U S I N E S S H I G H L I G H TSBusiness Highlights BlackRocks financial results were strong in 2010,capturing early benefits of the BGI Transaction.*Revenue increased 83%to$8.6 billion,ear

4、nings per share,as adjusted,*rose 53%to$10.94.Financial discipline enabled us to double adjusted operating income*to$3.2 billion and increase ad-justed operating margin*by more than 2 percentage points to 39%.Net new business in long-term products was$131.2 billion,*helping to fuel an increase in as

5、sets under management(“AUM”)to$3.561 trillion at year-end.Investment performance remained competitive with 70%of our active AUM outperforming their benchmarks or peer medians and over 97%of our index AUM achieving tracking errors within estab-lished tolerances.*At year-end 2010,BlackRock served inst

6、itutional,retail and high net worth investors in more than 100 countries.AUM managed for clients located outside of the U.S.totaled 44%,and 41%of our employees were based outside the U.S.We expect these figures to approach 50%over the coming years.At year-end 2010,products invested primarily in long