BlackRock has rolled out a new UK-domiciled version of its offshore $1.7bn BlackRock Global Multi Asset fund that seeks to provide an outcome-orientated approach to income investing via a globally diversified portfolio.
Dubbed as BlackRock Fund Management (BFM) Global Multi Asset Income fund, the new strategy will be co-managed by Michael Fredericks, Justin Christofel and Peter Wilke.
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Targeting an income of between 4-6% per annum, the new fund aims to provide an attractive level of income generation with capital growth within a tight risk framework.
The multi asset fund will invest in more than eight income-generating asset classes, in over 40 different countries and in excess of 20 different sectors, ranging from property and infrastructure to structured credit and high yield bonds.
The fund will be offered to investors through the BlackRock Plan for Income tool from next month.
BlackRock head of UK retail sales Jeremy Roberts said: "The new UK strategy will target an income between 4 and 6% each year, based on the Luxembourg version of the Fund having delivered an average income of around 5.54% since launch.
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By GlobalData"Finding and receiving income from mainstream sources is becoming increasingly difficult. Traditional bonds are being challenged by the perpetual search for yield, we’re seeing historic lows for interest rates on cash and while equities can produce an income, there is more volatility in a single asset class," he added.
