BlackRock has launched a new absolute return fund that will invest across equities and fixed income.
The BlackRock Multi-Strategy Absolute Return fund, the firm’s first Ucits-compliant multi-strategy alternative fund in Europe, will invest in five underlying alpha-seeking strategies spanning equities, fixed income and global macro categories.
The fund will be managed by BlackRock’s multi-asset strategies team, with the underlying strategies focusing on relative value trading approaches.
‘Many clients want diversified exposure to funds that add alpha and provide a different set of returns to equities and bonds, and this liquid multi-strategy fund will give them access to a range of alternative investment strategies in a cost efficient and dynamic way,’ commented Ingo Heinen, head of BlackRock’s alternative investment strategies in Europe.
‘This is a true multi-strategy product, where the performance fees are charged on the aggregate performance of the multiple alpha sources - which makes this product very competitive.’
The fund’s management fee will be 0.75% on I and D shares, with a 24% performance fee.