Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

BlackRock creates European Special Sits & flexible Japan funds

BlackRock creates European Special Sits & flexible Japan funds

New European Special Situations and Japan Flexible Equity funds have been created by BlackRock following the consolidation of its product range.

The group’s £300 million European Small & MidCap Opportunities fund has merged into the £500 million European Growth fund, now re-named as the European Special Situations fund. Over the past three years European Growth has returned 39.7%, compared with an average of 19.3% from its Citywire peer group.

Citywire AA-rated Michael Constantis, manager of both old funds, will run European Special Situations. The new product will define special situations as ‘companies with potential for improvement that the market has failed to appreciate’, and will invest around half its assets in small and mid-caps.

BlackRock has also formed a new Japan Flexible Equity fund from the merger of its £53 million Japan fund into its £148 million Japan Value fund. Marc Desmidt will head the new fund and will invest along both growth and value lines. Japan Value has returned 39.3% on a three-year view, compared with a 41.6% average from its Citywire sector.

In addition, BlackRock has merged its £150 million World Income fund into its £600 million Fixed Income Global Opportunities fund. World Income manager Scott Thiel, AA rated by Citywire, will become co-manager of Fixed Income Global Opportunities alongside A-rated Rick Rieder (pictured).

Fixed Income Global Opportunities will remain a ‘full spectrum’ bond fund, including the ability to invest in asset-backed securities and mortgage-backed securities. The fund has, over the past three years, returned 14.8%; the average for its Citywire category through the same period is 7.9%.

Leave a comment!

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

Related Fund Managers

Scott Thiel
Scott Thiel
41/67 in Bonds - Global (Performance over 3 years) Average Total Return: 3.13%
Rick Rieder
Rick Rieder
73/105 in Bonds - Global (Performance over 1 year) Average Total Return: 4.17%
Marc Desmidt
Marc Desmidt
28/48 in Equity - Japan (Performance over 3 years) Average Total Return: 38.06%
Michael Constantis
Michael Constantis
9/86 in Equity - Europe (Performance over 3 months) Average Total Return: 5.20%
Rob Weatherston
Rob Weatherston
Citywire TV
Citywire TV
Play Potential US rate rise, cheap oil & the Europe opportunity

Potential US rate rise, cheap oil & the Europe opportunity

This week we analyse the implications of a possible rise in US interest rates, the impact of cheap oil and the European equity opportunity.  

Play Carmignac's Crowl: what QE could mean for Europe

Carmignac's Crowl: what QE could mean for Europe

The ECB is widely expected to finally fire its QE gun this week. Carmignac's Sandra Crowl discusses the implications for the eurozone.

Play Grexit worries, currency wars and a grizzly outlook for 2015?

Grexit worries, currency wars and a grizzly outlook for 2015?

The first Investment Pulse of the year looks at the potential impact of Greece leaving the euro, volatility in currency markets and the UK’s economic prospects.

Your Business: Cover Star Club

Profile: DIY investing is biggest threat to industry, says Whitechurch

Profile: DIY investing is biggest threat to industry, says Whitechurch

The industry is at risk of pushing potential investors down the DIY route unless it does more to make its services accessible says the Whitechurch Securities boss

Wealth Manager on Twitter