Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

BlackRock shuts Evy Hambro’s small-cap mining fund

BlackRock shuts Evy Hambro’s small-cap mining fund

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.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter