PNC Advisors, the high net worth wealth management division of PNC Financial Services of Pittsburgh, has filed with the SEC to launch a new family of funds of funds using the funds and investment capabilities of its investment advisory affiliate BlackRock, Inc. of New York. The funds will cater to the needs of affluent investors.
Each of the PNC Profile Funds will invest in varying percentages among 10 existing BlackRock equity funds and nine BlackRock fixed-income funds, according to the SEC filing. Two of BlackRock's money market funds will also be used as the underlying mutual funds for the PNC Profile Funds. Each fund will offer a different investment objective and use a particular asset allocation model ranging from conservative to highly aggressive.