BlackRock intends to add a new fund to its range of U.K. equity funds, Citywire reports. The U.S. multinational investment manager plans to launch a version of its institutional U.K. Focus strategy in the retail market by the end of October.
The fund will be run by co-head of UK equities Luke Chappell, director Imran Sattar and the firm’s broader U.K. specialist equity team. The vehicle will invest in a concentrated portfolio mainly comprising U.K. equities. The U.K. Focus portfolio will have a limited initial issue and capacity of up to £350 million.
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