The funds combine institutional investment management by BlackRock with pricing designed to be attractive to plan sponsors of all sizes, including the $50 million and less market segment, the companies said. The funds are offered by Wilmington Trust Retirement and Institutional Services Company (WTRIS) and invest in collective investment funds managed by BlackRock.
The funds are available in multiple fee classes across 17 platforms, including some that provide registered investment adviser payment options. The BlackRock-managed funds are designed to appeal to retirement plan sponsors who seek index management for their defined contribution plans due to increased scrutiny on fees, investment expenses, and transparency. While designed to accommodate small retirement plans, the funds are open to plan sponsors of all sizes.
The family of funds utilizes BlackRock’s LifePath series of target-date funds, which are comprised of several of the firm’s Index Portfolios.
“This partnership between BlackRock and Wilmington Trust allows unprecedented access to institutional-quality retirement products for retirement plans of all sizes,” said Greg Porteous, head of Defined Contribution Intermediary Relationships at BlackRock.Additional information about the funds is available at www.wtris.com.