BlackRock have taken on a talented manager and short term he seems to be doing the right things
The UK Equity Sector is highly competitive with the UK Income Sector even more so. One fund that is unlikely to have come up on people’s radar screen is the BlackRock UK Income Fund. The fund was set up over 30 years ago but by their own admission has suffered from long term underperformance, nearly halving the assets it holds in the last ten years.
The previous lead manager was on long term sick leave and the fund was taken over by one of his co-managers. The new manager couldn’t reverse the performance and in 2013 they took on the highly respected Mark Wharrier as lead manager.
Quietly Mark has been restructuring the fund with the aim to bring back retail investors. It is now two years since that process started and now they seem ready to talk about the fund. In this update we will highlight why investors might now consider this fund and what they may need to consider as part of that decision.