Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at

McLeod-Clarke's BlackRock Income takes aim at discount

by Sarah Miloudi on Jan 29, 2013 at 07:35

McLeod-Clarke's BlackRock Income takes aim at discount

The board of BlackRock Income has taken aim at the vehicle's discount - roughly a year after it switched the trust's manager.

BlackRock Income directors said they have decided to use their share buyback powers to keep the fund's share price trading at or around net asset value (NAV). 

Currently, the board's policy is not to buy shares to hold in treasury at a discount of less than 4%, however this will be tweaked to enable the trust to buy at any discount.

Jonathan Cartwright, chair of BlackRock Income, said 'The board and BlackRock are committed to building the company to deliver both capital and dividend growth for shareholders over the long term.  The revised buyback policy should prove attractive to new shareholders and provide reassurance to existing investors who should see an improvement in liquidity in the company's stock.'

It follows a move by the trust, which is now managed by Nick McLeod-Clarke (pictured) and Adam Avigdori, to increase shareholders' final dividend for 2012, representing the trust's first increase in its final investor payout for three years.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home

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

The Citywire guide to investment trusts

Investment trusts have proved to be a highly effective way to invest in the market. Citywire has interviewed the experts to find out more.

Investing for income in a changing environment

With talk on interest rates on the horizon, our latest roundtable debate covers income investing against a changing backdrop

More about this:

Look up the fund managers

  • Nick McLeod-Clarke
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Adam Avigdori
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them


On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet