BlackRock launches UK-domiciled global multi-asset fund
BlackRock has announced the launch of the BlackRock Fund Management (BFM) Global Multi Asset Income fund, aimed at delivering an annual income of 4-5% within a tight risk framework.
It will invest in more than eight asset classes, in over 40 different countries and in excess of 20 different sectors, from property and infrastructure to structured credit and high yield bonds.
Jeremy Roberts, head of UK Retail Sales at BlackRock, commented on the launch: “Finding and receiving income from mainstream sources is becoming increasingly difficult. Traditional bonds are being challenged by the perpetual search for yield, we’re seeing historic lows for interest rates on cash and while equities can produce an income, there is more volatility in a single asset class. This Fund really aims to be the best of both worlds.”
BlackRock shareholders voted in favour of converting to the BlackRock Global Multi Asset Income fund and strategy. The Fund will be co-managed by Michael Fredericks, Justin Christofel and Peter Wilke and combined they run in excess of $15bn in multi-asset income strategies.