The Federal Retirement Thrift Investment Board (FRTIB) announced today that it has selected Blackrock Institutional Trust Company, N.A. as the investment manager for its International Stock Index Investment Fund (I Fund). The I Fund invests in a stock index fund that fully replicates the MSCI EAFE (Europe, Australasia, Far East) Index. The earnings consist of gains (or losses) in the price of stocks, dividend income, and changes in the relative value of currencies. As of August 2013, the I Fund held $28.6 billion in assets. The contract will be for a one-year term, with four one-year options.
The I Fund and the FRTIB’s other funds — the Common Stock Investment Fund, the Small Cap Stock Index Investment Fund, and the Fixed Income Index Investment Fund – are currently managed by BlackRock Institutional Trust Company, N.A. (BlackRock).