NEW YORK, NY, August 10, 2011 — Brock Fiduciary Services today announced that it has been engaged by the UAW Retiree Medical Benefits Trust (a voluntary employee benefits association or VEBA) to manage its ownership of General Motors (GM) common stock, preferred stock and warrants.
Pursuant to a prohibited transaction exemption granted by the Department of Labor, the GM securities were contributed to the VEBA to fund retiree medical benefits for a defined group of current and future retirees. As independent fiduciary, Brock will act on behalf of the VEBA in connection with the valuation, discretionary management and disposition of the GM securities.
Brock Fiduciary Services LLC, a registered investment adviser and subsidiary of Brock Capital Group, provides independent fiduciary and advisory services to employee benefit plans and others. Acting as an independent fiduciary, the firm represents the interests of plan participants in situations where plan sponsors face conflicts of interest that complicate their ability to make decisions about plan assets. Brock Fiduciary Services also provides specialized investment advisory services to trusts and other institutional investors not necessarily subject to ERISA.