Fundsters are contributing millions of dollars to coronavirus relief efforts.
BlackRock, the world’s largest asset manager (by AUM), is committing $50 million to efforts related to the COVID-19 pandemic, supporting food banks and community organizations in American and Europe, Reuters reports. The $18-million first tranche of that funding has already been sent out.
“Our food bank partners tell us that they’re already struggling with declining volunteer numbers and retail donations, compelling them in real time to redesign their operating model,” the BlackRock team tells Reuters.