BlackRock (BLK) Raises Holdings of U.S. Treasuries

BlackRock Inc. (NYSE: BLK) said on Thursday that it has increased its holding of Treasury securities recently as the world's largest money-management firm by assets responds to the unsteady forecast for
growth, according to a report in the Wall Street Journal.

BlackRock chief investment advisor Curtis Arledge said that he has led the company to be more constructive in the Treasury market, as the company takes more of a neutral stand from last year's underweight position.

The firm has also decreased its overweight positions in other fixed-income assets, like mortgage-backed securities and corporate bonds, as these markets heavily rallied last year.

"We see money leaving risky assets and into more stable assets," said Arledge, who sees improvements in the overall economy, but is seeing the recovery as potentially "choppy." He added that Treasurys with maturities of 10 years or more are right now "attractive."

The company is taking this step as concerns grow over the outlook for economic growth and the issues arising overseas with the sovereign debt crisis.

Many governments are facing issues of reducing high levels of debt, including Greece which on Wednesday announced new austerity measures worth 4.8 billion euro ($.59 billion).

Shares of BlackRock are up 50 cents in midday trading on Thursday to $215.58.

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