BlackRock to close Japan fund; rename High Income Bond

BlackRock has made changes to its fund range including the planned closure of its Japan vehicle and alterations to the investment strategy and name of its High Income Bond portfolio.

BlackRock had decided to close its Japan fund, run by Minoru Kikuchi, because its £6m size makes it uneconomical. Managing director, head of UK retail, Tony Stenning told investors in a letter the fund has been in "virtual decline" throughout the decade since the AUM reached a high of £126m in March 2000. "The fund hasn't been anywhere near this level for a number of years and we have sadly concluded that given its size it is unlikely to attract new investors," he says. Stenning says BlackRock considered merging the fund with another mandate, but came to the conclusion there were n...