BlackRock's chief executive expects the asset manager's revamped stock-picking division to benefit from a shift among large investors away from alternatives — a move that would buoy an area of the business that has struggled with outflows.

Larry Fink said the $6.3tn asset manager, which on Friday reported net inflows of $367bn for 2017 – a record for the New York-headquartered firm – was in discussions with institutional clients about moving chunks of their investment portfolios into equities during the course of this year.