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BlackRock (BLK) has lost out in the U.S. to lower-cost ETFs from Vanguard, says CEO Larry Fink,...

BlackRock (BLK) has lost out in the U.S. to lower-cost ETFs from Vanguard, says CEO Larry Fink, adding his firm has plans to address the loss in market share. AUM fell last quarter, helped by big outflows from the firm's iShares stock ETFs. Fink notes flows (on the stock ETF side) are going into "commoditized ETFs," - large index products.
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