BlackRock has launched five new mutual funds that seek to provide long-term investment results corresponding to the total return of the applicable BlackRock CoRI Retirement Indexes. The CoRI Indexes aim to help investors estimate how much their current savings will generate in annual lifetime income when they turn 65.
"The CoRI Indexes enable pre-retirees to quickly estimate the annual lifetime income their current savings may generate once they turn 65,” Chip Castille of BlackRock says. “Now, individuals can also invest in the CoRI Funds, which seek to deliver a total return that tracks the expected median cost of lifetime income." The five funds are:
• BlackRock CoRI 2015 Fund (BCVAX)
• BlackRock CoRI 2017 Fund (BCWAX)
• BlackRock CoRI 2019 Fund (BCXAX)
• BlackRock CoRI 2021 Fund (BCYAX)
• BlackRock CoRI 2023 Fund (BCZAX)
The mutual funds invest primarily in fixed income securities, and can also invest in other financial instruments. They will be managed by Scott Radell, CFA, and James Mauro, from BlackRock's North America Portfolio Solutions Group within Americas Fixed Income Alpha Strategies.
