Daily dealing introduced on Lyttleton's UK Absolute Alpha

BlackRock Mlim has made Mark Lyttleton's long/short equity mandate more retail friendly by introduci...

BlackRock Mlim has made Mark Lyttleton’s long/short equity mandate more retail friendly by introducing daily dealing. The Merrill Lynch UK Absolute Alpha fund launched with fortnightly valuations in April 2005. The change, to be introduced on 16 July, means investors will be able to place a deal into the fund on any dealing day before the cut off time. Deals placed after the 11am cut off time will be held over until the next valuation point, usually the next working day. The group said its move to daily dealing brings the fund into line with the rest of its unit trust range.