BlackRock UK Absolute Alpha - Bronze

FUND RESEARCH UPDATE: Fund Rating upgraded to Bronze

Randal Goldsmith 5 May, 2016 | 2:45PM
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Following a Morningstar Analyst Ratings Meeting we have awarded the BlackRock UK Absolute Alpha fund a Morningstar Analyst Rating™ of Bronze. The fund previously held a Neutral rating. Following Nigel Ridge’s appointment as fund manager at the end of March 2013 some significant changes have been made. These changes bring the fund closer to the investment approach of the BlackRock UK Equity Hedge fund that Ridge has managed from launch in May 2005, achieving a track record of 11 years of positive absolute returns. This fund’s performance has improved in line with the hedge fund over the three years to end March 2016, and has been in line with the manager’s Libor +4-5% target with 5-7% volatility. One of the changes introduced has been to restrict positions to stocks covered by BlackRock’s UK equities team and this, as well as Ridge’s effective use of the in-house risk and quantitative team, adds to our conviction in the fund.

See the latest Morningstar fund rating news here.

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
BlackRock UK Absolute Alpha A Acc166.21 GBP-0.65

About Author

Randal Goldsmith  is a Manager Research Analyst with Morningstar.