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The business of retirement

Asset management giant BlackRock is going big on the retirement cause, says president and co-founder Rob Kapito.

'I think people can invest in a conservative nature and still be good investors and get a good outcome. We're not asking them to take more risk than they should take. But taking no risk and being in cash is certainly not going to achieve the desired outcome.'

THE story about BlackRock's beginnings goes like this. It was 1988, junk bonds were the rage, but the Fed was tightening. Many investors suffered serious losses.

A group of eight Wall Street bond experts gathered in a room with a shared telephone one morning to set up a new bond shop,...

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