BlackRock Retail Absolute Return Fund Hits £2B

May 4 2010 | 11:48am ET

BlackRock’s pioneering retail hedge fund has grown to more than £2 billion in assets, and that’s just fine with its management team.

The U.K. Absolute Alpha Fund debuted five years ago, believed to be the first major absolute return vehicle open to British retail investors. Since then, it’s up 49.5%, topping the FTSE All-Share Index with just a quarter of the volatility.

And despite concerns that the fund has grown too large, Absolute Alpha’s co-manager, Nick Osborne, said he isn’t concerned.

“The size is something we think about an awful lot,” he told the Financial Times. “But we feel very, very relaxed. We have a portfolio that is naturally diverse—especially within the short portfolio.”

What’s more, the fund is poised to grow even more: Osborne and his co-manager, Mark Lyttleton, are bullish on the British market and is between 15% and 20% net long, more than it has been in some time.

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