BlackRock cuts fees on sterling version of $3.4bn high yield bond fund

Reduced by 10bp

BlackRock is set to cut the fees on sterling share classes of its $3.4bn Global Funds US Dollar High Yield Bond fund, following a review of the strategy.

Effective 24 November, the sterling-hedged version of the $3.4bn fund will see its annual management charge (AMC) fall ten basis points to 0.55%. Launched in October 1993, the strategy is co-managed by James Keenan, CIO and global co-head of credit at BlackRock Alternative Investors, and portfolio managers Mitchell Garfin and David Delbos. The strategy looks to maximise returns through a combination of capital growth and income, investing at least 70% of its total assets in fixed income US dollar-denominated securities. BlackRock EMEA head Hoctor-Duncan departs after 20 years Th...