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BlackRock may look offshore for UK fund ideas

BlackRock managing director Alex Hoctor-Duncan says the group could look to its offshore range for new additions to its UK offering.

The firm’s BlackRock global funds range currently stands at around £47.6bn, including its £7.5bn world mining fund.

BlackRock has recently announced the launch of its China fund under the management of Jing Ning and Alan Wang, based in Hong Kong. The fund sits in the BGF range, with UK distributor status.

Hoctor-Duncan says: “We have only launched three unit trusts in the UK space in the past few years, with UK absolute alpha, UK dynamic and total return. However, the UK range has been largely untouched since we did some housekeeping on the range in the early part of the decade.

“Now we need to look at where to add to that and a logical decision is in the offshore space where we have this capability.

“We need to look at funds and say do they need more than just a UK distributor share class? Alternatives like agriculture look attractive but nothing is concrete.”

Hargreaves Lansdown senior analyst Meera Patel says: “Given the capacity of someone like BlackRock, it could bring a number of strong funds into the UK market that would benefit IFAs.”


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Valuable lessons

Speaking at the Investment Management Association’s annual dinner last month, IMA Chairman Robert Jenkins told the investment management industry and its guests that even though the credit crunch was not | yet over, it was not too soon for all those caught up in it to learn a few lessons.


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