University of Reading (England) hired BlackRock to provide asset management, administration and other related services for the university's new defined contribution plan, according to BlackRock spokeswoman Melissa Garville.
New participants in the University of Reading Pension Scheme will be able to invest in six BlackRock funds, such as the DC Diversified Growth Plus Fund. That fund will also account for about 50% of the investment allocation during the growth phase of the default lifestyle investment option. Other funds include strategies that invest in global equity, fixed income and cash.
Ruth Busby, deputy director of human resources at the University of Reading, could not be reached by press time for additional information.