The Federal Retirement Thrift Investment Board (FRTIB) announced this week that it has selected Blackrock Institutional Trust Company, N.A. as the investment manager for its Small Cap Stock Index Investment Fund (S Fund).
The S Fund invests in a stock index fund that tracks the Dow Jones U.S. Completion Total Stock Market Index. The earnings consist of dividend income and gains or losses in the price of stocks. As of June 2014, the S Fund held $49.8 billion in assets. The contract will be for a one-year term, with four one-year options.
The S Fund and the FRTIB’s other funds — the Fixed Income Index Investment Fund, the Common Stock Investment Fund, and the International Stock Index Investment Fund – are currently managed by BlackRock Institutional Trust Company, N.A. (BlackRock).