BlackRock revamps Global Equity fund

BlackRock is overhauling the investment objective of its Global Equity fund and plans to boost exposure to emerging market equities.

In a letter to shareholders, BlackRock's head of retail, Tony Stenning, said the £206m fund intends to focus more on emerging market-domiciled equities. He said while the current policy allows for this flexibility, the amendment clarifies that EM stocks may make up a more substantial proportion of the  portfolio in future. However, the fund, run by Richard Turnill and Andrew Williamson-Jones, will typically continue to have greater exposure to developed markets than emerging markets, the group said. BlackRock is also adjusting the wording of the fund's investment policy in regard t...