'Lack of new investor interest' forces BlackRock to shut $22m China Flexible Equity fund

BlackRock Global Funds

BlackRock Global Funds will shutter its BGF China Flexible Equity fund by 7 November 2023, it said in a shareholder letter.

The strategy was launched in October 2017 and, according to the company, its net asset value was $22.3m as of 4 September 2023. The decision to close the fund stemmed from a "lack of new investor interest", BGF chair Denise Voss said in the letter, adding the company does not expect to raise significant subscriptions in the near future. BlackRock partners with Richard Branson-backed platform to launch money market funds She explained that continuing to manage the fund at its current size would result in higher investment costs, which the firm said is "not in the best interests of s...