BlackRock’s Kapito Says Stocks Are Primed for a Comeback
- BlackRock co-founder says $9 trillion is in money market funds
- Money in cash alternatives may shift to equities, Kapito says
BlackRock Inc.’s Robert Kapito says the stock market is poised to benefit as investors deploy their outsized holdings of cash.
There’s almost $9 trillion sitting in money market funds and the same amount in cash alternatives at banks, Kapito, president of the world’s largest asset manager, said at the Asia Pacific Financial and Innovation Symposium in Melbourne on Tuesday.