View the article online at http://citywire.co.uk/wealth-manager/article/a746542
BlackRock shuts Evy Hambro’s small-cap mining fund
by Robert St George on Apr 16, 2014 at 11:07
BlackRock has closed a fund that was launched just two years ago for Evy Hambro (pictured) after it failed to attract sufficient assets.
The BlackRock Mining Opportunities fund opened in 2012and targeted small and mid-cap miners. BlackRock confirmed the fund had recently suffered ‘large redemptions’ and shrunk below £1 million. The firm stated that this had left it uneconomic to manage.
Under Citywire + rated Hambro and co-manager Tom Holl, the Mining Opportunities fund lost 12.3% while the HSBC Global Mining index dropped 13.2% over the past year.
The fund had participated strongly in the mining recovery since the start of the year, returning 11.5% through January and February, ahead of the benchmark’s 3.7%.
The share price of its top holding, US gold specialist Romarco Minerals, has also more than doubled so far this year.
News sponsored by:
As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
Today's top headlines
From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.
More about this:
Look up the fund managers
On the road
on Jul 31, 2014 at 10:36