State of Wisconsin Investment Board (SWIB) is seeking to reduce or terminate BlackRock from a $4.7 billion MSCI World ex-U.S. index fund, Pensions & Investments reports. The system is planning to use the proceeds to establish its first internal international index fund. The pension fund has not decided whether it would be terminate BlackRock or how much will it take away from the firm. SWIB, which plans the initial reallocation by the end of the month, is planning to reduce costs by moving money in-house.
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