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Laxman Pai, Opalesque Asia:

American multinational investment management BlackRock has made a minority investment in SpiderRock Advisors, expanding its customized investment and separately managed account (SMA) offering for wealth managers and financial advisers.

The asset manager said in a press release that its U.S. Wealth Advisory business primarily will handle marketing and distribution of SpiderRock's strategies and advisory services to wealth managers and other financial intermediaries.

Details of the transaction were not disclosed, but BlackRock expects it to build on its own personalized SMA capabilities, which now includes Aperio, a creator of tailored index strategies that the asset manager acquired late last year.

SpiderRock managed $2.5 billion as of March 31 in options-based strategies in customized SMAs for U.S. wealthy individuals, the release said. The firm's strategies are available through all of the major RIA custodians and are focused on risk management and yield enhancement for diversified portfolios as well as concentrated stock positions.

According to the press release, BlackRock's market leaders and consultants in U.S. Wealth Advisory will serve as the primary distribution and marketing team in introducing SpiderRock Advisors' advisory services and strategies to wealth firms and financial advisors.

"BlackRock's SMA franchise specializes in providing customized actively managed fixed income, equity, and multi-asset strategi......................

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