Deals & People August 16, 2010

RPAG Adds MPI’s Stylus Web to Scorecards

Retirement Plan Advisory Group (RPAG) has partnered with investment research and technology provider Markov Processes International (MPI) to enhance RPAG’s Scorecard System Generator.
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RPAG has integrated MPI’s Stylus Web, a manager research and reporting tool that provides advisers with institutional-quality manager analysis and returns-based style analysis , holdings-based information, and other performance-based analytics to its Scorecard System Generator, an open architecture application that ranks more than 15,000 funds, 30 asset classes, and 65 vendor products.

MPI’s Stylus Web Utilized alongside RPAG’s proprietary Scorecard System, the new tool empowers advisers to run individual manager reports with the freedom to change variable time periods, benchmarks, and peer groups.

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“We are continually seeking ways to add value to our integrated practice management platform,” said Jeff Elvander, Chief Investment Officer of Retirement Plan Advisory Group. “MPI’s Stylus Web affords RPAG members a highly customized investment analytics tool, which in turn enables them to deliver even deeper, more meaningful consulting services to their plan sponsor clients.”

Deals & People August 16, 2010

BofA May Unload BlackRock Stake

Bank of America Corp. (BofA) may be divesting itself of its 34% share of BlackRock Inc., according to published reports.
 
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The bank has decided that its 64.7 million common and preferred shares of BlackRock is not a core asset and is therefore considering reducing its holding.

The asset manager reportedly has the right of first refusal on any sale of the shares, valued at $9 billion. Although a lockup preventing the bank from selling the holding expired Sept 29, 2009, though there are still restrictions on how much BofA can sell at any one time, The Wall Street Journal reported.

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Bank of America acquired the holding in the asset manager through its purchase of Merrill Lynch (see “Bank of America Buys Merrill Lynch“). Merrill Lynch had acquired its stake in 2006 when the companies agreed to merge Merrill Lynch Investment Management (MLIM) with BlackRock to form a new independent investment management firm operating under the BlackRock name (see “BlackRock and Merrill Lynch Join Forces in Asset Management“).

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