BlackRock is among the top stock picks in a report from US brokerage analyst Michael Hecht, who is bullish on firms less exposed to equities given the more volatile market conditions of the credit crisis.

Hecht, of Banc of America Securities, favours managers that have sizeable money market fund businesses, traditionally viewed as a safe haven by investors. His stock picks include BlackRock (20% of assets in cash funds), Federated Investors (75% in cash funds) and brokerage Charles Schwab (12% in cash funds).