I think people misunderstand what BlackRock does. It’s a proxy for other investors. Investors all around the world buy assets, produced by BlackRock and BlackRock routes that money into corresponding shares/bonds/real estate, etc.
The word “Produced” is doing some heavy-lifting in that sentence. When I hear “produced” I think of a factory making stuff that has value or a farm producing food.
I create software. Its not farm work nor is it physical but I can assure you I produce deliverables.
produce /prə-doo͞s′, -dyoo͞s′, prō-/
intransitive verb To bring forth; yield. “a plant that produces pink flowers.” To create by physical or mental effort. “produce a tapestry; produce a poem.” To manufacture. “factories that produce cars and trucks.”
Sounds like the word fits just fine. The investment firm “brings forth” the investment opportunity that someone without financial advisors and millions to invest needs to get into real estate through eREITs. That opportunity wouldn’t exist without them providing the service of connecting investors with and managing funds for the investments.
I believe in the classic Homer Simpson line this covers the “services” portion of “money can be exchanged for goods and services.”
Gotcha mortgage backed securities. Well why not? Nothing ever goes wrong with those.