Wisconsin State Investment Board, Madison, added $700 million to a BlackRock Barclays Capital Government/Credit Bond index fund, raising its allocation to $6.5 billion, by dropping the firm’s Alpha Tilts-enhanced Barclays Capital Government/Credit index fund, said Vicki Hearing, SWIB public information officer.
The board, which oversees $76 billion in assets, dropped the Alpha Tilts fund to move the assets to a pure index fund, Ms. Hearing said.
Also, $1.2 billion run for the board by BlackRock in a Russell 1000 index fund was moved to internal management. The board now runs $13.8 billion in the internally managed Russell 1000 index fund.
The board wanted to reduce investment management costs without sacrificing performance, Ms. Hearing said.
No consultant assisted, Ms. Hearing said.