BlackRock

2019 YE — All values in USD billions— Definitions

www.blackrock.com
55 E 52nd Street, New York, NY 10055

Head of Business Development for the Americas Financial Institutions Group

646-310-1565

Insurer Services
Investment Accounting Outsourcing	Y	ALM Partnering	Y
Customized Portfolio Reporting	Y	Regulatory Assistance	Y
Insurance Client Web Portal	Y	Strategic Asset Allocation Advice	Y
Peer Analytics	Y	Tactical Asset Alloc / Multi-Asset Portfolio Mgt	Y
Capital Modelling & Management	Y	Insurance Client Conferences	Y
Income & Cash Flow Projections	Y	ESG Specific Products Placed with Insurers	Y

3rd Party General Account	Public	Private	Total
Fixed Income	318.525	13.164	331.689
Equities	35.9	9.16	45.06
Total	354.425	22.324	376.749

Firm	Public	Private	Total
Fixed Income	–	–	2,315.39
Equities	–	–	3,820.33
Total	–	–	6,135.72

Public Fixed Income	3P-GA	Firm
Cash/Short-Term	3.893	–
Governments & Agencies	62.375	–
Corporates	163.152	–
Municipals, Tax-Preferenced	13.344	–
Municipals, Taxable	12.039	–
Securitized – RMBS	–	–
Securitized – All Other	36.734	–
Convertibles	–	–
High Yield	10.417	–
Bank/Leveraged Loans	1.387	–
CLOs	–	–
Emerging Markets – Sovereigns	3.497	–
Emerging Markets – Corporates	2.708	–
Other	8.978	–

Public Equities	3P-GA	Firm
Large Cap	16.372	–
Mid Cap	–	–
Small Cap	0.003	–
Global Developed Markets	–	–
Emerging Markets	1.591	–
Quant/Smart Beta	–	–
Mkt Neutral / Long-Short / Liquid Alts	–	–
Dividend-Tilt	–	–
Passive SMAs	–	–
Other	17.934	–

Private Fixed Income	3P-GA	Firm
Private Placements – Traditional	–	–
Corporate – Middle Market	1.454	–
RE – CMLs	–	–
RE – All Other Debt	0.616	–
Infrastructure Debt	4.66	–
Structured	5.709	–
High Yield	–	–
Other	0.725	–

Notes
Traditional private placements are captured in the respective public fixed income sector such as corporates