BlackRock's U.S.-based active funds post record 2016 withdrawals -Morningstar
NEW YORK, Jan 3 (Reuters) - Investors pulled $19.3 billion from BlackRock Inc's U.S.-based actively managed mutual funds in 2016, Morningstar Inc estimates showed on Tuesday, a record high as the investment industry struggles to restrain an exodus to lower-cost investments.
The funds posted nearly $8.5 billion in outflows during the fourth quarter, the research service said.
(Reporting by Trevor Hunnicutt; Editing by Sandra Maler)
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