BlackRock, the 3rd largest manager of money funds with $​288.​1 billion, mentioned cash a few times in its recent Q3 Earnings Call. CFO Gary Shedlin commented, "BlackRock'​s cash management business experienced net outflows of $​15 billion, driven by the planned redemption of a single escrow mandate. Excluding this redemption, our cash platforms saw $​9 billion of net inflows and continue to leverage scale and Cachematrix technology to better serve clients. We are now the second largest money market manager globally and have steadily increased market share by more than 250 basis points over the last 3 years." [Note: We believe this is incorrect. Crane Data shows BlackRock as the 3rd largest money fund manager globally behind Fidelity and J.​P. Morgan.] Chairman & CEO Larry Fink said on the conference call, "Investors worldwide are taking a defensive posture highlighted by the market volatility we saw last week. Short-​term government bond funds are seeing their highest inflows since 2010. Cash balances have grown to $​80 trillion globally even as companies execute record amount of share repurchases and M&​A accelerates globally. Asset management industry flows overall has slowed considerably. At the same time in this environment even more clients are turning to BlackRock for investment and technology solutions to navigate their portfolios." He added, "​Asset and wealth managers are rethinking their business models and looking for ways to operate more efficiently and rigorously managing risk in more volatile market environments at times with this type of volatilities where we see more interest in our Aladdin business. These trends are driving increased demand for BlackRock'​s broad-​based technology services and digital tools.... Aladdin for Wealth and Cachematrix technology services grew by 18% year-​over-​year, and we expect these trends to continue to drive low to mid teens growth on an annual basis going forward. The impact of technology is extending beyond our direct technology business. For example, we'​re transforming our cash management business, one of BlackRock'​s oldest businesses, by integrating technology into our business model. We'​re delivering training technology powered by Cachematrix to onboard cash clients who are looking for more than a simple cash product. Cash management in BlackRock is now a technology business."

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