BlackRock MLIM has launched a fixed income total return fund, to be managed by Schroders' Jer...
BlackRock MLIM has launched a fixed income total return fund, to be managed by Schroders' Jeremy Cave.
The Total Return portfolio, part of Merrill's Dublin-domiciled Oeic range, aims to achieve capital growth through investments in companies conducting a significant share of its North America-based business.
The £15.06m portfolio invests in all conventional index-linked and corporate bonds in UK and overseas fixed-income markets, including sub-investment grade and emerging markets debt.
Cave, head of pan-European fixed income at Schroders, said research is focused on the generation of bottom-up investment ideas in all sectors and uses Schroders' proprietary Fixed Income Analytics system to measure risk.
While the price and spread performance of all securities is constantly reviewed, a significant out- or under-performance of a corporate-bond holding will trigger a sale.
The target level of tracking error then defines the specific limits for key attributes such as duration, deviation from the yield curve and off-benchmark investments.
Minimum investment in the product, which sits in the Merrill Lynch Global Selects umbrella, is £2,500. The fund levies an initial charge of 5.5% and a 2.25% annual fee.
Tracking real performance
Diversified return team
The equivalent of £1.7m every day
Janus Henderson Global Dividend index