BUZZ-Australia's Generation Development jumps on BlackRock alliance

Reuters

05/08

BUZZ-Australia's Generation Development jumps on BlackRock alliance

** Generation Development GDG.AX soars as much as 9.2% to A$4.740; marks biggest intraday pct gain since April 10

** Fund administrator's unit enters into strategic alliance with global asset manager BlackRock BLK.N to develop Holistic Retirement Solutions for retirees

** BlackRock will buy A$25 mln ($16 mln) stake in co

** GDG last up 3.7%, takes YTD gains to 26.7%

($1 = A$1.5516)

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com;))

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