BlackRock Adds Nine Target-Date Funds

Published June 20, 2007, 1:00 a.m. EDT

Updated June 19, 2007, 4:42 p.m. EDT

1 Min Read

BlackRock Inc. has introduced a family of nine life-cycle funds.

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The BlackRock Lifecycle Prepared Portfolios have target maturity dates ranging from 2010 through 2050 that are designed for defined-contribution plans.

Life-cycle funds, or target-date funds, are designed to become more conservative as the investor's retirement date approaches. Morningstar Inc. lists 150 such funds in the United States.

Merrill Lynch & Co. Inc. owns a 49% stake in BlackRock, which is based in New York. The fund family was announced Monday.

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