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SWIB Drops BlackRock From $4.8B Fund
The State of Wisconsin Investment Board has removed BlackRock from a $4.8 billion MSCI World ex-U.S. index fund.
TheState of Wisconsin Investment Board(SWIB) has removedBlackRockfrom a $4.8 billionMSCI World ex-U.S.index fund,Pensions & Investmentsreports. The scheme has used the funds to set up its first internally managed international index fund.
In-house staff will manage the assets against the same index. SWIB, which has made the move to cut costs, had been considering eliminating the BlackRock portfolio since April.
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