BlackRock makes property fund debut in UK retail space

BlackRock has launched its first property fund into the UK retail space.

The BlackRock Global Property Securities Equity Tracker fund targets capital growth by following the FTSE EPRA/NAREIT Global Real Estate Series Developed index.
BlackRock’s index portfolio management team will run the fund, with Manus Stapleton as the lead manager. The fund will sit within the BlackRock Collective Investment Funds (BCIF) range.

“The fund is being launched as part of our strategy to enhance the range of trackers available within our BCIF range.

“It will also be used as a building block within our Consensus fund,” BlackRock said.

BlackRock’s CIF is a Ucits umbrella scheme comprising 11 funds which are only registered for sale in the UK. A further six tracker funds are ready to be launched into the suite, having received FSA approval.

These are the Developed Asia Pacific Ex Japan Equity, US Equity, World Ex UK Equity, Over 15 Years Gilts, Over 5 Years Index Linked Gilts and Overseas Bond funds.

“The other funds are placeholders and will launch if we believe there is sufficient client demand to justify bringing them to market,” the group said.

The BlackRock Global Property Securities Equity Tracker fund sits in the IMA Property sector.