Learn more about ABLE United’s Savings and Investment Managers
International Stock Fund
BlackRock, founded in 1988 under the umbrella of The Blackstone Group, focused initially on fixed-income securities. In 1995, as wholly-owned subsidiary of the PNC Financial Services Group, BlackRock gained access to a large distribution network and began managing open-end mutual funds, including equity funds. In 1998, PNC consolidated its asset management subsidiary names under BlackRock and the following year, BlackRock went public with broad employee ownership (NYSE: BLK). Today, BlackRock provides a breadth of investment solutions across active management, quantitative and index strategies with more than $4 trillion in assets under management, spanning equity, fixed income, real estate, liquidity, alternatives, and asset allocation/balanced strategies for institutional and retail clients.
FDIC Savings Fund
The Bank of New York Mellon (BNY Mellon) was founded in 1784 by Alexander Hamilton and is one of the longest-lasting financial institutions in the world. BNY Mellon oversees more than $30 trillion in custody and administration assets with $1.8 trillion in investment assets under management in more than 100 markets.
Money Market Fund
The Local Government Surplus Funds Trust Fund (Florida PRIME) was created by an Act of the Florida Legislature in 1977 and currently serves over 800 participants across the state of Florida. Florida PRIME invests exclusively in short-term, high-quality fixed-income securities rated in the highest short-term rating category by one or more nationally recognized statistical rating organizations, or securities of comparable quality. Since February 13, 2008, Federated Investors, Inc. has managed the assets of Florida PRIME to the exact specifications of its investment policies. Since 1955, Federated has grown to become one of the nation’s largest investment managers with $377.3 billion in assets under management. Federated has honed its disciplined investment process over a half-century to deliver style-consistent investment products, including 137 domestic and international equity, fixed-income and money market funds, as well as a variety of separately managed accounts.
U.S. Stock & U.S. Bond Funds
The Vanguard Group, Inc. (Vanguard) traces its roots to the Wellington Fund, which began in 1928. Vanguard was founded in 1975 and is owned by its member funds and, in turn, the shareholders of those funds. The firm has more than $3 trillion in assets under management in a variety of passive and actively managed mutual funds across a wide array of asset classes and investment styles serving individual investors, retirement plans, institutions, and financial advisors.