BlackRock cuts AMC on Natural Resources fund

BlackRock has cut the annual management charge (AMC) on its Natural Resources Growth & Income fund after a review of its pricing.

The charge will be reduced from 1.75% to 1.50% on class A units and from 1% to 0.75% on class D units from 17 April. The fund, launched in May 2011, is just £10.8m in size and over one year it is down 7% (to end of Feb) according to the group's own data. However, it has outperformed its benchmark - the S&P Natural Resources sector - which is off 9.5%. The group recently altered the management team running the fund, bringing in Catherine Raw and Desmond Cheung to work alongside existing managers Josh Freedman and Tom Holl. At the end of February, the fund had an overweight in ene...