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BlackRock closes emerging markets fund

BlackRock has closed the BSF Emerging Markets Extension fund just nine months after its launch.

In a letter to shareholders, chairman Nicholas Hall said a lack of interest in the fund had prompted the decision to wind it up.

“The net asset value of the fund has been less than $50m since launch and the directors do not expect the fund to attract further investor subscriptions in the near future,” Hall said.

The $10.1m Sicav, which launched in February and had been managed by Jeff Shan and Jan Bratteberg, was liquidated on 16 November and the proceeds distributed.

A spokesperson for BlackRock said there are no plans to close the $10.4m BlackRock Asia Extension fund, which is also run by Jeff Shan and Jan Bratteberg, or the $7.9m BlackRock Americas Diversified Equity Absolute Return fund, both of which launched during the same month.


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Old Mutual Wealth appoints Graham Bentley as head of investment marketing

Old Mutual Wealth has appointed Graham Bentley as head of investment marketing. The global role will see Bentley, who was previously head of propositions at Skandia, cover the UK, Latin America, Europe, the Middle East and the Far East. Old Mutual Wealth was created when Skandia UK, Skandia International and the Skandia European businesses outside […]


SRA recommends approval of restricted referrals

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Advisers warn new chief exec cannot change “flawed” MAS

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