Thursday, 26 March 2015
Last updated 2 hours ago
Oct 20 2011 | 9:36am ET
BlackRock will launch a UK equities best ideas fund to be helmed by its co-head of UK equities, Luke Chappell.
Chappell and BlackRock director Imran Sattar will manage the new vehicle—a retail version of the firm’s institutional UK Focus fund—which will be launched this month. The new fund will focus on companies incorporated or listed in the UK.
Currently run in the same format as an institutional mandate, the fund will invest in between 20 to 25 of the managers’ best ideas, without any constraining benchmark.
Chappell and Sattar will be assisted by BlackRock’s UK specialist equity team, which consists of 18 portfolio managers and oversees about £25.5 billion in assets
BlackRock’s head of UK retail, Tony Stenning, told Citywire Wealth Manager the decision to launch the fund was the result of demand from clients, particularly from discretionary and fund of funds managers.
“Everyone is seeking out elusive alpha, which our guys have done year in, year out,” said Stenning.
The fund will launch with a limited initial issue and capacity up to £350 million. Investors can opt for a flat annual management fee of 0.75% or a base fee of 0.35% plus a 20% performance fee for outperformance over the FTSE All-Share index.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…